Asked by Abhishek Mittal on Jun 03, 2024
Verified
Why would farmland closer to the limits of a city be worth more than farmland farther out?
Farmland
Agricultural land used primarily for the purpose of growing crops and, sometimes, raising livestock.
- Understand the elements that affect the valuation and leasing rates of agricultural lands.
Verified Answer
MM
Mariam MuhammadJun 04, 2024
Final Answer :
Differences in rent arise from differences in land productivity and location. Location itself can affect productivity and rent. Other things equal, renters will pay more for a unit of land that is strategically located with respect to materials, transportation, labor, and customers than they will for a unit of land whose location is remote from these things.
Learning Objectives
- Understand the elements that affect the valuation and leasing rates of agricultural lands.