Modern Farmer has an upbeat review of an early farmland preservation initiative on Long Island, dating to 1974. Farmers sell off the development rights to their land, getting lower assessment and lower taxes.
It sounds good, but I wonder about the economics. There's reference to a 23 acre farm. It may have been growing potatoes in the 1970's; Long Island's glacial soil was great for potatoes. But with changing farming economics and inflation, I'm guessing today's farmer needs to switch to vegetables and specialty crops to make things work. Perhaps tomorrow the land will grow greenhouse or vertical farming. How long can the deal last?
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