John from Iowa asks,
What’s your thoughts on House Bill 2410 in Iowa? This would allow non resident landowners with over 80 acres to get a buck tag every year without going through the non resident process. In my opinion recreational land prices will go out and resident hunters will slowly get squeezed out.
Bill responds,
Topic: Iowa House Bill 2410:
Regardless of which side of the fence you sit on, there is no doubt in my mind that allowing non-residents to get guaranteed buck tags in Iowa if they own a certain number of acres of land will increase land prices somewhat and will also reduce potential access for resident hunters.
John,
My quick research shows that this bill died and never made it to a vote. I know that similar bills have been presented in the past and have died also. I am sure you are right that it would affect land ownership in Iowa and would reduce access by Iowa resident hunters. I don’t know by how much nor do I wish to be the judge on what is right and what is ethical.
I am sure it depends on which side of the fence you are sitting on.
But regardless of your views – a bill like this would for sure eventually reduce access for residents and drive up land prices to a degree (to be honest, I am not sure how they can go higher right now – we are already more expensive than all of the surrounding states – that have much more liberal non-resident policies).
Have a great day. (8/30/22)
Bill,
Curious what farm ground is bringing in Iowa? Here in Northern Indiana we are seeing 15k per acre. Not sure how guys are justifying it but that’s the current price this days.
Thanks,
Jake
Jake, it is anywhere from $10,000 per acre to $25,000 per acre! Some over $30,000, but that has development potential too. Depends on the county and the competition in those counties. I think a small part of it comes from farmers looking for more places to dump manure so they can expand their feeder pig operations. But overall I think it is just competition between neighboring farmers who are cash rich and don’t know what else to invest in. I can’t figure out how they justify it. I am sure most farmers who aren’t paying this much can’t figure it out either. Some banks are requiring as much as 50% down around here at these prices. There is a correction starting. Some recent auctions have failed to reach the reserve price and resulted in a no-sale. That hasn’t happened in a while. That is partly due to unrealistic reserve prices after such a hard upward run, but also in part due to a reduction in demand or at least a return to rational thinking.
Recreational land has remained very high here and has reached as much as $10,000 per acre in smaller blocks in most demanded areas! I have bought again recently and feel pretty squeamish about it in this market but you can’t control when your neighbors want to sell. It is a crazy time for land but I am sure it will likely straighten out soon. I just hope it doesn’t crash and leave me holding the bag. Good luck out there. Bill