Growing Farmland Value

May 9, 2003
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The value of farmland in Kent County rose by nearly 44 percent over the past two years. All but two of the jurisdictions that have agricultural property saw equalization increases from 2001 to 2003. Over that period, gains ranged from a low of 24.6 percent in Lowell Township to a high of 77.8 percent in Grattan Township.

Here is a comparison of the farmland valuation for those two years and the percent change for each of the 21 jurisdictions.

                              2001                    2003                   Percent
Jurisdiction          Valuation           Valuation           Change
Ada                       $6,221,700           $10,297,900       65.5%
Algoma                 $7,325,400           $9,532,300         30.1%
Alpine                   $26,836,500         $37,396,100       39.3%
Bowne                  $14,964,000          $24,514,600       63.8%
Byron                    $14,094,200         $20,877,900       48.1%
Caledonia              $8,377,600           $10,627,000       26.8%
Cannon                 $6,366,300           $1,238,300        (80.5%)
Cedar Springs       $35,500                $35,500               00.0%
Courtland              $8,112,600           $11,535,500        42.2%
Gaines                   $11,328,900         $15,750,400        39.0%
Grattan                  $11,285,200         $20,062,800        77.8%
Lowell                   $12,310,300          $15,333,900        24.6%
Nelson                   $5,767,100           $8,262,900          43.3%
Oakfield                $6,594,400           $10,287,800         56.0%
Plainfield               $433,600               $549,900             26.8%
Rockford               $107,500               $98,600              (08.3%)
Solon                    $10,181,000          $14,744,100         44.8%
Sparta                   $16,593,800          $24,389,000         47.0%
Spencer                 $8,901,300            $12,833,500         44.2%
Tyrone                  $13,974,900          $22,274,200         59.4%
Vergennes             $9,878,600            $15,761,350         59.5%
Total                    $199,690,400        $286,403,550      43.4%

Source: Kent County Equalization Report, 2001 & 2003.

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