The Market Value of Water in the Ogallala Aquifer as Implied by Recent Farm Sales

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by L. Allen Torell, New Mexico State Univ, United States,
James D. Libbin, New Mexico State Univ, United States,
Robert R. Lansford, New Mexico State Univ, United States,

Document Type: Proceeding Paper

Part of: Optimizing the Resources for Water Management:

Abstract: As indicated by farm sales in the Ogallala region, the value of water in the Ogallala Aquifer has fallen. Market values have declined by 30 to 60%, following the recent downward trends in land values. Estimates of in-storage water values in the aquifer range from a high of about $9.50/acre-foot in New Mexico in 1983 to a low of $1.09/acre-foot in Oklahoma in 1986.

Subject Headings: Business management | Aquifers | Agriculture | Water supply | Developing countries | Irrigation | North America | United States | Oklahoma | New Mexico

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