Farmland Values Double
The value of farmland has doubled since 2008, according to the latest figures from the Tompkins County Department of Assessment. In 2008, after the last reappraisal, the average price was $1000 per acre; now it is $2300 per acre. For me the interesting part is that this is not due to commercial development or natural gas speculation, but a higher demand for agricultural land. There are about 500 farms in Tompkins County and 100 full time farmers. Farms constitute about one-third of the county's 300,000 acres.