Water Rights and Land Values in the West-Central Plains

Irrigation is vital to the economic activity of the west-central Great Plains. The crops grown, the distribution of center-pivot irrigation systems, and the basic transportation infrastructure is the same in northwest Kansas, northeast Colorado, and southwest Nebraska. But buyers of agricultural land face a different price for irrigated cropland in each of the states, even when the production characteristics of the land are similar. After accounting for factors like productivity and local property tax differences, we argue that it is the difference in water marketing rights between the three states that explains the price difference. The link between land values and water marketing rights is statistically developed by using Ordinary Least Squared (OLS) regression techniques. After adjusting for differences in property taxes, the analysis reveals that the implicit value of full water-marketing rights in the region is approximately $1,026 per acre. This valuation is within the range of estimates provided by other comparable studies across the country.

Refuge Update – November/December 2007, Volume 4, Number 6

Table of Contents: Celebrating 20 Years of Science on the M/ V Tiglax, page 5 Kevin Bell is honored as Captain of the largest ship operated by the National Wildlife Refuge System. Focus on…A River Runs Through It, pages 8-15 Rivers on refuges are managed for recreation, habitat restoration, water rights and sheer beauty. The Fight Against Giant Salvinia, page 18 Caddo Lake National Wildlife Refuge in Texas is fighting a weed that can travel three-quarters of a mile in 24 hours. Awards, page 21 From protecting the land to going “green,” awards recognize excellence.