Heat check…land prices
- Thread starter Howboutthemdawgs
- Start date
Foggy47
5 year old buck +
The value has gone up. I will not get the tax assessment until after the time to dispute the value is up. THEN they let you know the assessment. At this point....the value of timberland (hunting land) is now almost $5000 / acre in north central Minnesota.
rocksnstumps
5 year old buck +
Not surprising. Well it is actually for my old brain. But noted in another thread farmland in county where my WI land is jumped 42% over 5 yrs. Nuts.
Foggy47
5 year old buck +
^ I think allot of people (me included) feel that owning land is better than money in the bank (and sometimes the stock market). Still mine provides nothing but costs and maybe a little income from a timber sale every 30 years. It does offer some inflation protection....but it's still a money pit. My place has more than doubled in value since I bought it.....but I may have spent most of that on "improvements" and expenses over time.
For me it provides some time with our family, some good exercise.......and I get to play farmer / land manager / logger a day or two each week and plan how to spend more money......without much to show for my efforts....lol.
Lots of ways to measure value other than money.
For me it provides some time with our family, some good exercise.......and I get to play farmer / land manager / logger a day or two each week and plan how to spend more money......without much to show for my efforts....lol.
Lots of ways to measure value other than money.
Foggy47
5 year old buck +
Land may not yield a huge financial ROI.....but when you look at it for the times you spend enjoying that land.....it seems worth it to me. If on the other hand you spent that money on travel and entertainment.....that money is "spent" rather than "invested"....and it's GONE.
There was a book I once read....and it's central theme was to "Buy Things Of Lasting Value". Always remembered that when deciding on purchases....and try to teach my family such things......tho sometimes it seems futile....lol.
Cotton
Yearling... With promise
Foggy: I assume you are near the Brainerd Lakes area. I'm near Detroit Lakes. Becker County. Recreational land values in your neighborhood and mine have gone up substantially in the past few years. I doubt your taxes are up anywhere near your percentage increase in valuation, given the tax base in and around Crow Wing County. My values for wooded and farm land are up 25% and more. Taxes are almost flat, a slight increase. Last year (2024) my lake home went up 33%, then down 10% for 2025, due to State Of MN "adjusting" Assessor's values to match sales. If you want to question valuations, go see the Assessor personally OR call them. Don't waste your time at a township meeting. Assessing is supposed to be sales and fact based. Out of whack sales of land near you will cause unreasonable increases at times. Been there! Hope all is well. I appreciate your common sense posts. Dave.
Foggy47
5 year old buck +
Thanks for your input Cotton (Dave). Yeah...you have my land pegged pretty well. I am in the lakes area and land does go for a premium here vs another 40 miles away. Not as much wooded "hunting" land on the market as there was some years ago when Potlatch had tracts for sale. Then they put it all in the "nature conservancy" and that dried up the source. I am not too concerned with the hunting land taxes as they are reasonably low compared to my home on the lake here and my hunting land is forest managed and get a break on that.
On the other hand my home tax bill really bites me. I really should have a long talk with the assessor here as I think I pay (and have paid) a premium vs some neighbors of mine with more lake frontage and similar homes. I do not understand the logic and sizable variations. That assessor must really like my home. Grin. Sometimes, it pays to kick that can....and sometimes it may not pay.
We continue to look for a lower cost place to be....but so far have not found one. We don't want to build again and have become snow birds. Mn really fleeces the lake home owners.....IMO. I guess they gotta get the money somewhere. We are lucky to have had lots of years on the lake.....but now do not spend that much time on the water. Blessed.
On the other hand my home tax bill really bites me. I really should have a long talk with the assessor here as I think I pay (and have paid) a premium vs some neighbors of mine with more lake frontage and similar homes. I do not understand the logic and sizable variations. That assessor must really like my home. Grin. Sometimes, it pays to kick that can....and sometimes it may not pay.
We continue to look for a lower cost place to be....but so far have not found one. We don't want to build again and have become snow birds. Mn really fleeces the lake home owners.....IMO. I guess they gotta get the money somewhere. We are lucky to have had lots of years on the lake.....but now do not spend that much time on the water. Blessed.
Cotton
Yearling... With promise
Foggy: You are on the right track. Go in and see the Assessor when you get back. It may help for next year. I have been checking tax assessed values for 50 years, lake homes, undeveloped lakeshore, and recreational land. I've gotten decent adjustments by going in and making my case. In a few cases, the local township assessor was WAY off base and the County Assessor backed off. The real comparison is finding similar property and seeing how it compares to your lake home. I have found enough assessment errors to make a check worthwhile. Ask the County Assessor to send you their assessment sheets / worksheets. They will show home dimensions, construction quality, lakeshore frontage, acreage, and more. You can maybe have it emailed, or hard copy. It is your right and it is public information, for that matter. Your business experience will see you through. Good luck when you get a chance to do battle.
Dave.
Howboutthemdawgs
5 year old buck +
Since the market is cratering and investing in equities seems riskier than ever, I wonder if land doesn’t become a flight to safety. I could see this driving prices up even more. No tariffs on land/real estate and the obvious dynamic of not making more of it.
Mortenson
5 year old buck +
But wouldn't investors need its ability to make income/returns? Soybeans are down 50 cents the couple days.
Howboutthemdawgs
5 year old buck +
Trump will subsidize that very soon at taxpayer expense.
But I think more it’s a place to park money for people who don’t want to be in the market with all the volatility of the next 4 years. Additionally rates are falling so money markets and cds are not as valuable
Mortenson
5 year old buck +
This 1 is live now. 10 different states registered. Up to 6300 in preHere's one selling in big buck country next week. Has a partially completed barndominium that looks sharp. Bet there's monsters in this hood.
SCHUYLER COUNTY, IL LAND AUCTION - MALCOMSON - Sullivan Auctioneers - Sullivan Auctioneers
SCHUYLER COUNTY, IL LAND AUCTION - MALCOMSON - Sullivan Auctioneers - Sullivan Auctioneerssullivanauctioneers.com
Howboutthemdawgs
5 year old buck +
Freaking easement access too. Helps my theory that land is gonna rise I suppose
Mortenson
5 year old buck +
Well I guessed 7k, so maybe it helps my theory that land is gonna sink, lol
