What Is Fair Land Rent?
How many dollars per acre for land rent would be fair for both the farmer and the land owner? That is a very common question in the fall. Typically that is the time when farmers and land owners begin planning for the next season, unless there is a multi-year land rent agreement.Determining a fair land rent is even more difficult in this environment of low corn and bean prices. While at the same time land owners are seeing their real estate taxes increase.
The University of Minnesota Extension has scheduled a number of Land Rent meetings in our area. University of Minnesota Extension Educator in Ag Business Management David Bau will be the presenter at the meetings. Topics include historical and projected rental rate trends, current farm land values and sales.and worksheets that will help determine a fair agreement.
Fair Land Rent meetings will be held at the following locations:
Chaska on November 14 at 9:30 AM at the Carver County Government Center-Township Hall;
Elko New Market on November 14 at 1:30 PM in the New Market Library;
Steele County Community Center, Owatonna on Thursday, November 29, 9:30 AM;
Rice County 4-H Building on November 29, 1:30 PM;
Cologne on December 14, at 9:30 AM at the Carver County Public Works Building;
Jordan on December 14 at 1:30 PM at the Scott County Extension Office;
RSVP's are appreciated but not required. In addition more Land Rent meetings are scheduled around Minnesota. For more information contact your closes Extension office.