The 2020 ISU Land Value Survey shows a 1.7% increase in average Iowa farmland values from November 2019 to November 2020. The average statewide value of an acre of farmland is now estimated at $7,559. This modest rise is the third increase in Iowa farmland values over the past six years, and a second consecutive rise.
Who owns the most farmland in Iowa?
DES MOINES — The world’s third-richest man is now reportedly the biggest farmland owner in America and he’s also among the largest in Iowa. Billionaire Bill Gates, the co-founder of Microsoft, now holds claim on some 269-thousand acres of land across the country, including 242-thousand acres of farmland in 19 states.
How much does an acre of land sell for in Iowa?
Iowa’s farm real estate value, a measurement of the value of all land and buildings on farms, averaged $7,190 per acre in 2019, according to the USDA, National Agricultural Statistics Service – Land Values 2019 Summary. This is down $80 per acre or 1 percent from last year’s level.
Does Bill Gates own land in Iowa?
Gates owns only 552 acres in Iowa, vs. Nebraska where he owns 20,588 acres. Most of Mr. Gates’ purchases are made through “front organizations” and it appears that Cascade Investment is the front group purchasing the land.
How does an inheritance work in the state of Iowa?
The person who has died (the decedent) may have passed property on through the making of a will; or, if the decedent has failed to make a will, Iowa law provides for distribution of the property. There are other ways to distribute property at the time of death which are not detailed here.
What’s the maximum amount that can be probated in Iowa?
A somewhat related change to the Small Estate Statute (Chapter 365 of the Iowa Code) was also made in 2018. This change increased the maximum value of probate assets for an estate to qualify for small estate administration from $100,000 to $200,000 for persons dying on or after July 1, 2020.
How to find out what your land is worth?
Call 515-537-6633 What’s Your Land Worth? Get news about local auctions by entering your email address below.
How much money can be distributed by affidavit in Iowa?
A section of the Iowa probate code (633.356) was revised to increase the dollar amount whereby a decedent’s property may be distributed by affidavit in lieu of a formal probate proceeding – and that amount was increased from $25,000 to $50,000 (or less). That code section outlines the affidavit requirements.
