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

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: Agriculture | Water supply | Water storage | Economic factors | Business management | Pricing | Irrigation water | United States | New Mexico | Oklahoma

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