This analysis examines agricultural land sales trends in Virginia, focusing on transaction volume, price-per-acre changes, and regional differences. The study finds a decrease in overall transaction volume across the state, which could be influenced by broader real estate market conditions. Data from the analysis is also compared to other agricultural land value studies.

The publication provides an overview of the property tax reassessment process in Virginia. It explains why tax reassessment is important, and what the typical process looks like for Virginia jurisdictions. The paper gives a breakdown on how often reassessments are conducted, how the process differs for counties versus cities, and a step-by-step breakdown of the process for contractors or state officials. In addition to reassessment methodologies, the publication also provides figures showing statistical breakdowns of reassessment factors such as contracting or conducting in-house, the use of a physical inspection, and common reassessment intervals.

Every year in August the USDA National Agricultural Statistical Service (NASS) releases cash rental rates for 3 distinct land classes in Virginia as mandated by the 2008 Farm Bill. Rental rates for irrigated and non-irrigated cropland and pastureland were recently released for Virginia counties and cities. Provided below is 2023 rental rates by jurisdiction for irrigated and non-irrigated cropland and pastureland.