Farm Progress
A farmer retiring in late 2021 sold two 10-year-old tractors for more than he paid new. Farmland, not development land, set records, with one parcel in central Indiana selling for $29,500 per acre. R.D. Schrader of Schrader Real Estate and Auction Co., Columbia City, Ind., reported that land his company sold in late 2021 brought 20%, 40% and even 60% more than actual appraised market value.
A balance sheet is a snapshot in time of your financial worth. If you filled out a balance sheet today compared to one year ago, and you own a substantial amount of land and machinery, it would likely reflect much higher values, simply because of price appreciation.