Re: Renting Farm Land
[Re: Sullivan K]
#6135023
01/23/18 07:13 AM
01/23/18 07:13 AM
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Joined: Dec 2006
Posts: 3,473 Northern Ohio ...
Sullivan K
OP
"Keith"
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OP
"Keith"
Joined: Dec 2006
Posts: 3,473
Northern Ohio ...
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I have to go get my granddaughter and get her to school at 9:00. after that I'll supply what information I can. I'm not a farmer, so I don't know some of the stuff farmers know.
My name ain't Keith
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Re: Renting Farm Land
[Re: Scout1]
#6135034
01/23/18 07:39 AM
01/23/18 07:39 AM
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Joined: Sep 2012
Posts: 917 Perry, NY
Dana I
trapper
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trapper
Joined: Sep 2012
Posts: 917
Perry, NY
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I work with a guy that's from western NY. He owns around a hundred tillable acres. $500/acre for ethanol corn. He claims land owners are cutting woods down and dozing into corn fields a lot. I would be suspect of that guys numbers. You can't pay 500 a acre to grow corn at the prices we have had for the last several years. Most land here in my area of WNY is renting between 125 and 250 per acre. It very much depends on location. If it is very close to a big farm that needs more land it will be much more than land that is a little farther away. I do know that the canning factory in the area has been contracting good carrot growing land for 700-1000 per acre. Your friend is absolutely right in his report of woods being knocked down. Its ben rampant in this area for about 3 years now. I know of one farm with a contract to clear about 1000 acres.
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Re: Renting Farm Land
[Re: Saskayote]
#6135065
01/23/18 08:33 AM
01/23/18 08:33 AM
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Joined: Dec 2006
Posts: 11,165 Central NC
traprjohn
trapper
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trapper
Joined: Dec 2006
Posts: 11,165
Central NC
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We on here cant tell you. The land owners around you with equivalent land types, can. exactly
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Re: Renting Farm Land
[Re: Sullivan K]
#6135179
01/23/18 10:47 AM
01/23/18 10:47 AM
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Joined: Dec 2006
Posts: 3,473 Northern Ohio ...
Sullivan K
OP
"Keith"
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OP
"Keith"
Joined: Dec 2006
Posts: 3,473
Northern Ohio ...
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The land I have is in, what is called, the C.A.U.V. Program. Which is Current Agriculture Use Value. It is taxed at a lower rate because it is being use for agriculture. Land values are based on soil type which can vary on a single piece of ground. In my case of 77 acres, I can have several different soil types. I don't know what types of soil I have. Land values are also based on what crop yields the land has produced and I don't know what the yields have been, on the land I have.
This is all public record at the auditors office so there are no secrets here. My taxes were $412.oo in 2008. In 2009 the taxes went to $967.00. There was a meeting telling us that yields were up, so taxes went up, more than doubling. In 2012 the taxes went up to $2185. Once again because of increased yields and because of increased yield the land value was increasing. In 2015 the taxes went up to $4912.oo. Again because of increased yields and increased land values.
So, in a 7 year period my taxes went up more than 1000%. I signed a 6 year lease after the first increase, having no idea that the taxes were going to keep doubling every three years. I really took a beating on the income that was being generated, because of the taxes I was paying.
The whole thing is tiled so drainage is not a problem. I talked to the person who owns 160 acres right next to me and she is getting $150 an acre. I have gotten a pretty good increase in rent but the taxes have also increased tremendously.
This is the first new lease since taxes went so high so I am trying to do the best I can to recoup what has been a dismal income stream from the land.
My name ain't Keith
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Re: Renting Farm Land
[Re: Sullivan K]
#6135197
01/23/18 11:05 AM
01/23/18 11:05 AM
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Joined: Dec 2006
Posts: 29,861 williamsburg ks
danny clifton
"Grumpy Old Man"
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"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,861
williamsburg ks
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Nothing like getting permission to use, and paying rent on, something you "own".
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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Re: Renting Farm Land
[Re: Sullivan K]
#6135212
01/23/18 11:20 AM
01/23/18 11:20 AM
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Joined: Jul 2010
Posts: 2,182 Idaville, Indiana
MB750
trapper
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trapper
Joined: Jul 2010
Posts: 2,182
Idaville, Indiana
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Around here cash rent farm ground has going for $200 to $300 per acre with $200 to $245 being the most popular. I rent mine on a 50/50 basis. The farmer pays half of the expenses & I pay half. At harvest the grain is sold the same way. I own the ground, pay the taxes, etc. & the farmer furnishes the labor, fuel, & equipment.
For years I have been tomstrap, now I must change because of the whims of the cyber world. NRA Life, ISTA Life, FTA Life, NTA Life
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Re: Renting Farm Land
[Re: Sullivan K]
#6135286
01/23/18 12:25 PM
01/23/18 12:25 PM
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Joined: Apr 2017
Posts: 463 Upstate NY
David Morse
trapper
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trapper
Joined: Apr 2017
Posts: 463
Upstate NY
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I own 44 acres and I let my neighbor farm it for free. The only compensation I get Is he mows my field s off at the end of summer.
life member NYSTA
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Re: Renting Farm Land
[Re: Sullivan K]
#6135697
01/23/18 07:51 PM
01/23/18 07:51 PM
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Joined: Nov 2014
Posts: 786 Illinois Livingston county
wwc
trapper
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trapper
Joined: Nov 2014
Posts: 786
Illinois Livingston county
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First thing to remember you are in the land renting business not farming if you are cash renting your land , then get as much info from neighbors as possible and start high and work down from there. Easy peasy. Next thing to know is we all struggle every year we set contracts . We rent on a March to Nov contract each year .
Last edited by wwc; 01/23/18 07:53 PM.
Your money is not worth my sanity
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Re: Renting Farm Land
[Re: Nick C]
#6135728
01/23/18 08:09 PM
01/23/18 08:09 PM
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Joined: Dec 2006
Posts: 3,473 Northern Ohio ...
Sullivan K
OP
"Keith"
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OP
"Keith"
Joined: Dec 2006
Posts: 3,473
Northern Ohio ...
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Have you considered a “flex lease” with your tenant, that you set a base amount and depending on price/yield you receive a percentage of gross income per acre. No I had not. That sounds like something that would be fair to the farmer and myself.
My name ain't Keith
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Re: Renting Farm Land
[Re: Sullivan K]
#6169019
02/24/18 08:08 PM
02/24/18 08:08 PM
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Joined: Dec 2006
Posts: 3,473 Northern Ohio ...
Sullivan K
OP
"Keith"
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OP
"Keith"
Joined: Dec 2006
Posts: 3,473
Northern Ohio ...
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I just signed a three contract for $209.oo an acre. In the contract I get hunting, trapping, mushroom hunting, and just general being able to wander around the property whenever I want, right across the road from me, rights. I'll be able to take the grand kids over to the woods and go for walks with them. It will be enjoyable to take the kids out and let them discover things in the woods.
My name ain't Keith
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Re: Renting Farm Land
[Re: Sullivan K]
#6169040
02/24/18 08:34 PM
02/24/18 08:34 PM
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Joined: Dec 2006
Posts: 20,030 SEPA
Lugnut
trapper
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trapper
Joined: Dec 2006
Posts: 20,030
SEPA
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Sounds like a pretty good deal.
Eh...wot?
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