Appraisals
Count on Farm Credit East for your ag appraisal needs.
- Land and buildings, including barns and outbuildings
- Specialty agricultural buildings
- Large land parcels
- Ag processing facilities
- Mineral royalties
- Standing timber
- Timber processing facilities
- Conservation easements
Please note, Farm Credit East only appraises properties in the Northeast states we serve: Connecticut, Maine, Massachusetts, New York, New Jersey, New Hampshire, Rhode Island and Vermont. Additionally, Farm Credit East does not appraise non-credit residential properties, non-agricultural commercial properties or business valuations.
Find your local appraiser to discuss how Farm Credit East can help with your appraisal needs.
Appraisal FAQs
Appraisals are especially important when you:
- Transfer farm assets to the next generation.
- Buy or sell real estate.
- Carry out estate planning.
- Settle an estate.
- Gift property.
- Transfer business assets to the next generation.
- Donate land to a trust.
- Sell development rights.
- Address property tax issues.
- Develop a business plan.
We use one of three different approaches to reach an appraisal value. We base it on:
- The income your ag-asset generates
- The comparative sales value of your agricultural asset to the sales of other similar agricultural assets
- A cost approach where we take the brand new cost of your structural improvements, reduce it by the amount of wear and tear it has received, as well as other forms of depreciation, and add the value of the land base
This really depends on the item. Usually, our appraiser will find a similar item that sold in order to provide a well-supported value on the item.
The cost of the appraisal is based on an hourly charge for our appraisal staff. You will receive a competitive rate and get an ag-specific appraisal expert to ensure you receive the most accurate appraisal possible.
Our appraisers help you decide what type of documentation is appropriate for your situation, from a restricted-use appraisal to a detailed narrative report. A simple report may be all you need to set a selling price. However, if you’re involved in a court case, a comprehensive narrative report may be necessary.
No. Anyone with an ag business or rural property can take advantage of our appraisal service whether or not they borrow from Farm Credit East.
Assessments are made for the specific purpose of taxation under special rules and as of a particular date. They are likely not reliable for a different purpose. An independent market value appraisal provides a good review of your assessment.
Our appraisers can base their valuation of your property on its current market value, agricultural or special-use value or value as of a particular date. We work with you to ensure that you receive the type of appraisal you need.