RT Journal Article
SR Electronic
T1 Capitalization of Hunting Lease Income into Northern Mississippi Forestland Values
JF Land Economics
JO Land Econ
FD University of Wisconsin Press
SP 137
OP 153
DO 10.3368/le.89.1.137
VO 89
IS 1
A1 Hussain, Anwar
A1 Munn, Ian A.
A1 Brashier, Jerry
A1 Jones, W. Daryl
A1 Henderson, James E.
YR 2013
UL http://le.uwpress.org/content/89/1/137.abstract
AB Hunting leases are impacting rural land values. Using land sales transactions in northern Mississippi, this study quantified how hunting lease income affects forestland value, while controlling for sale attributes, county attributes, and ecosystem differences. Estimation procedures included traditional as well as spatial econometric modeling. A dollar increase in per acre hunting lease rate was associated with a 0.80% increase in per acre forestland value. Hunting lease income was capitalized into forestland value at a 7.55% rate. These findings should be helpful to forest landowners, appraisers, buyers, and government officials in land valuation and natural resource management issues. (JEL Q24, Q26)