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k-289
Senior Advisor

Land Marketing

Benton  County  Washington  auction  of  @22,500   acre   sold  for  $209,000,000.oo   -   -   -

The Bankruptcy  sale  results  published  in  a Benton County  business  section  publication  -  -  -

Winning  bidder  according  to  the  article  was  Farmland Reserve  Inc. , a Utah  non-profit   branch  related  to  the           Church  Of  Jesus Christ  of  Latter  Day  Saints , adding  to  a  million  acre  portfolio  -  -  -

100C  LLC  was  the  second  place  bidder  at  reported  $208,000,000.oo  -  -  - 

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13 Replies
BA Deere
Honored Advisor

Re: Land Marketing

I don`t know if that is out of the normal for Washington, a 22,500 parcel selling for $9300/acre for total of 209,000,000?  Is it less desirable that the Mormons bought it than Bill Gates? 

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k-289
Senior Advisor

Re: Land Marketing

Kinda  like  whom  is  best ,   Armour ,  John Morrell ,  Farmer John ,  or  Farmland  -?  -?  -?

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lsc76cat
Senior Advisor

Re: Land Marketing

Don't know how their property tax laws are in Washington but if it goes off the books due to a church group buying it that's not helpful to others.  Property tax law should include provisions that take into account what land is used for.

 

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BA Deere
Honored Advisor

Re: Land Marketing

Large parcels and big prices, the small pool of those that can write out $200 million checks are the only possible new owners.  I guess who would you rather be your neighbor?  Bill Gates who`ll turn your next door property into some kind of damn butterfly sanctuary?  AJ DeCoster who`ll fill it full of hog and chicken barns?  The Mormons who`ll leave you alone?  I`d say you could do a lot worse, than the latter ..... saints    🙂  

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lsc76cat
Senior Advisor

Re: Land Marketing

If land is used to generate revenue for the owner it should be classified and taxed the same as other land in the area used for the same purpose.  Regardless of who the owner is.

sw363535
Honored Advisor

Re: Land Marketing

Yes yes yes yes.    That church should not be allowed to be one of the nations largest farming entities tax free.

Same for University endowments or environmental(or animal rights) activists.  Or any other "proclaimed" Church.

There is no reality to the idea they "leave us alone",  They dump millions in tax burdens on those they compete with.

 

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ddtfarm1
Veteran Contributor

Re: Land Marketing

OMG!! I agree with SW36555.

k-289
Senior Advisor

Re: Land Marketing

Interesting  enough , whom  ever   wrote  the  check ,  the  court  decides  which  chapter  plaintiff  receives  the  proceeds, with a  time  of  reckoning  with  the  packing  company  yet  pending  -   -  -

B  T  O ' ism,    might  remind  us  of  the  letters  printed  on  our  outside  rearview  mirrors , as  a  mi$$  count  of                reported ,  ) 200,000 (  ,  feed  yard  cattle  might  create  some   veddy  interesting  conversations        -   -   -

Whom  doesn't  qualify  for  a  non - profit  on  occasion   -   -   -   

 

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sw363535
Honored Advisor

Re: Land Marketing

It is the environment we have created.  And they will fail often.........  just like 90% of the small farms over the last 150 years of agriculture.  Cheap food and the masses move off the farm so they don't have to do the work of creating food on a small farm.

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