FARM LAND VALUES IN IOWA. 85 
The general truth of the proposition that owners of Iowa farms 
have acquired present net worth largely by increase in land values 
may be roughly tested by interpreting available facts with regard to 
the average period of ownership and the average increase in land 
values for the period. The essential facts are shown in Table XXI. 
TABLE X XI.—Average present age of owners who operate their farms, average years an 
owner, average years of ownership of present farm, Tama district. 
Average 
Average | Average | years 
Age groups. present | years an | owner of 
age. owner. | present 
farm. 
Undersitveanrs== 4-5-2 - 233 Sane eye Nah alee Se area ee nee SHO 28. 5 33, 8 3.4 
SHS ATA GgtIID CLO TA eens cree ees ane hrs SLs. Sate eink uC ne Nae ee acta ee 36. 5 8.9 7.4 
41Tl BOG | URAVG Kerra EL 8 Ree ca ee ee ir al Aye oe ee A ee a epee oe eee 46.1 195 10. 5 
Sil Mine | OuiGeeeyaee esse seeaee Se EIA SCC SEG CoS Ane On BES ee moe eeees 56. 2 21.2 16.1 
Aarintens se <n CE ree eee ee Deen ae, Se sa ae ato 44.0 WP 7 10.5 
The average period of ownership is 12.7 years. Assuming that the 
acreage owned throughout the period has been the same as the present 
acreage owned, the average addition to net worth for the period of 
~ ownership from increase of land value alone may be estimated at 
over $60,000. As shown in Table XX, the average net worth on 
March 1, 1919, was $65,464. However, of the total increase a little 
more than £18,000 occurred from March, 1919, to August, 1919, making 
a corresponding addition to net worth. Accordingly, it appears that 
of a total net worth of about $84,000, approximately $60,000 is due to 
increase of land vaiue. 
It may be said, of course, that it is incorrect to assume that the 
same acreage has been owned throughout the period of ownership, 
and there can be no doubt that this introduces a factor of uncertainty 
into the estimate, especially in view of the fact that there has been 
a tendency for the average size of lowa farms to increase. However, 
the fact should be noted that there is no discernible tendency for 
the average size of the farm to increase with the age of ownership. 
Indeed, there is a decline during the first three age-groups, with a 
slight increase in the last. Moreover, the assumption takes no 
account of the increment of value obtained from parcels of land 
acquired and resold, nor of the increment from additional farms 
owned by the individual farmer. Consequently it is not improbable 
that at least $60,000 of the total net worth of farm owners in the 
Tama district may be accounted for by increased land values. 
Moreover, the farmers have attained their present net worth in 
part by inheritance, gift, and marriage. The double influence of 
inheritance, marriage, and gift on the one hand and of retirement from 
farming on the other is shown by the small difference between the 
