Joe Burrow and Others purchasing Iowa Farm Land
- Thread starter boone7247
- Start date
Or he could give them a really high $ and never have to worry about anything again.
Kelly Reilly's next water tank scene, coming to a cornfield near you
He owns a significant amount of land beyond this specific farm. He could cash out and be done whenever he wants, but he wouldn't know what to do with himself.
A few months ago, the highest auction sale ever recorded for Iowa farmland was a 73 acre plot for in the neighborhood of $26,250 per acre up in the Remsen area of NW Iowa.
This is off the top of my head, but I'm in the industry. Sorry if the specifics are a little off, but it's close.
EDIT: For those wondering rental prices for farmland in my area of North Central Iowa go for about $350 ish an acre twice a year. It's very good land but not quite as good as NW Iowa. In my experience, most farmers rent more acres than they own by quite a bit. That's just my experience tho.
This is off the top of my head, but I'm in the industry. Sorry if the specifics are a little off, but it's close.
EDIT: For those wondering rental prices for farmland in my area of North Central Iowa go for about $350 ish an acre twice a year. It's very good land but not quite as good as NW Iowa. In my experience, most farmers rent more acres than they own by quite a bit. That's just my experience tho.
Last edited:
There are a few pieces going for over 20K. https://dreamdirt.com/iowa-land-prices-august-2022/ I suspect it's a neighbor who has wanted to add a specific field for a long time and figures if he lets it go he'll never have another chance. Land is a great investment because it's inflation-proof AND, unlike gold, will also produce income beyond appreciation. The Fed has inflated the money supply so there are a lot of dollars looking for a home.
That I don't know. I do know there's tax incentives in the form of credits and such associated with farmland.
Although I don't know the specifics of how much and what is associated with renting the land vs owning it vs owning and working it oneself.
I know in my area you would be surprised how much land is owned by oil money types from Texas etc.
O.K. but am I the only one who thinks she is not very attractive? I just cant get over her lips. It could also partially be that her character on Yellowstone is a very rough one.
I don't think she is either and I hate her character.
I’ve got 320 acres I’ll sell to him for 48k/a. Quick, someone give me Joe’s number.
I don’t know of any tax credits that apply to individuals or corporates purchasing ag property. Tax exchanges for like properties are common thou which is a set amount of time that an individual can take the proceeds from
an ag property sale and reinvest that money in the purchase of another ag property without paying capital gains on the initial sale or income tax.
Depending on the area, around $30-35/ac right now, give or take.
Property tax on ag property in Iowa is based on a formula that takes productivity into account. This is a base for each tract. Additional taxes on the local county and school district may be and often are added. My farm produces 200 bu corn on average, we have a new school bond and a county paving project. My property tax is $30 per acre.
I was fortunate enough to be the agent in that sale. Kurt was first class in every way. If I recall it was just under 1500 acres.
