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I n <br />2016 Elk River <br />Local Board of Appeal and Equalization <br />April 11, 2016 <br />In previous years the Green Acre per acre value was determined by using the 5 base counties in <br />Southwestern Minnesota and applying a factor to set the county average. For 2016 the <br />methodology for determining the Green Acre averages was changed. The current methodology <br />utilizes agricultural sales within a region to develop a tillable and non -tillable value to be used for <br />Green Acres in that area. The Department of Revenue issued a memo which indicated that the <br />average per acre value for tillable land was to be $3,100 and the average for non -tillable was to be <br />$1900. <br />Values are on a parcel or group of parcels 40 acres or more in size. <br />2016 Estimated Market Values <br />2a Tillable 4200/ac <br />2a/2b Pasture 4100/ac <br />-Same values have been applied to CRP land <br />Waste 750/ac <br />Wetlands 750/ac <br />2016 Green Acres Values <br />2a Tillable 3100/ac <br />2a Pasture 2200/ac <br />Waste 750/ac <br />-Same values have been applied to CRP land <br />