Nebraska
Annual survey finds Nebraska ag land values up 5%
The market value of agricultural land in Nebraska increased 5% over the prior year, to an average of $4,015 per acre, according to the University of Nebraska–Lincoln’s 2024 Nebraska Farm Real Estate Market Survey preliminary report. This marks the third consecutive year of increases, setting another high in non-inflation-adjusted statewide land value.
The report is issued annually by the university’s Department of Agricultural Economics and Center for Agricultural Profitability. It is based on a survey of land industry experts across Nebraska, including appraisers, farm and ranch managers, agricultural bankers and other industry professionals.
Those responding to the survey attributed the rise in Nebraska’s agricultural real estate values to purchases for farm expansion, current livestock prices, 1031 tax exchanges, the amount of land offerings for sale, and hedges against inflation. Farms or ranches in strong financial positions looked to expand their operations by purchasing additional land. Competition for land remained strong in the industry, as fewer acres were available for sale.
According to Jim Jansen, an agricultural economist with the university who leads the survey and report, many operations acquired tangible assets, such as land, machinery and equipment, to hedge against inflation and rising prices.
“The Federal Reserve’s policies to slow inflation have led to agricultural real estate loans moderating around 8%,” Jansen said. “Future changes in the market value of land across the state will be tied to the profitability of farm and ranching, along with long-term interest rates for financing real estate purchases.”
The survey reports the market values on seven types of land by region across Nebraska, as well as an average for the entire state. The estimated market value of dryland cropland without irrigation potential rose 3% across the state compared to the prior year. Center pivot-irrigated cropland increased 4%, while gravity-irrigated cropland rose 3%. According to Jansen, lower grain prices contributed to gains in cropland values moderating from the growth seen in 2023.
Jansen also said that rising cattle prices and competition for more acres helped drive grazing land and hayland market values up by an average of 6% to 8% in the state.
The survey found that average cash rental rates for dryland and irrigated cropland are also moderating this year compared to the rates of increase seen in recent years, experiencing between a 7% decline and 5% increase, thanks in part to lower crop prices and favorable yields across the United States.
“Survey participants expressed concerns about drought, input expenses and water availability for the upcoming growing season in certain regions,” Jansen said. “Accounting for actual crop revenue, production expenses or irrigation limitations might be features to consider in a flexible lease for 2024.”
The preliminary report is available on the Center for Agricultural Profitability’s website here. The final report is expected to be published in June.
Two virtual workshops covering land and leasing issues, estate planning and the newly published land values and cash rental rates, will be held March 27 and 28. The March 27 workshop is scheduled for 9 to 11:30 a.m. Central time and will be geared toward viewers in central and western Nebraska. The March 28 workshop is set for noon to 2:30 p.m. Central time and will feature examples more relevant to viewers in eastern Nebraska. The general information presented in both meetings will be the same. Registration is free here.
The Nebraska State Fair is celebrating America’s 250th anniversary with a special 72-hour flash sale on Season Passes.
From July 3 through July 5, fans can purchase a 2026 Season Pass for just $50—a significant discount from its regular value of $132.
The pass includes one admission per day for all 11 days of the 2026 Nebraska State Fair, making it ideal for visitors who plan to attend multiple days.
Fair officials say the promotion is one of the biggest Season Pass discounts offered in years and will not be extended.
After July 5, Season Passes will remain available at a higher discounted price.
OMAHA, Neb. (WOWT) – Legalizing online sports betting has met with resistance in the Nebraska Legislature for years.
Tax Relief Nebraska, a group backed by Nebraska casinos and online sports betting groups, took the issue to the people of the state through a petition drive.
Those petitions are now in, and casino officials say they expect to have enough signatures to make the November ballot — but also expect pushback through Election Day.
The case for online betting
Currently, legal sports bets cannot be placed on a phone in Nebraska. Casino operators say people who choose to wager are finding other ways to do it.
“They’re just doing it illegally through a virtual private network, or they’re driving over to the first exit between Iowa and Nebraska, placing a bet and then driving back to their home,” said Lynne McNally of Warhorse Casino.
Nebraska casino operators say the state has already collected millions of dollars in state taxes and property tax relief from casino gambling, and that online sports betting would add to that total.
A majority of Nebraskans voted for casino gambling to enter the state in 2020, and casino operators expect similar support if the online betting petition makes the November ballot.
“As you know, we got 65% on the constitutional amendment and actually got nearly 70% on the tax portion of the statute when the casinos were legalized in 2020. I think that we’ll be in that area, if not maybe a little higher than that,” McNally said.
“There’s always going to be a sector of the public that doesn’t want to gamble. They don’t want to go to our facilities and that’s just fine. I guess I have an objection with trying to tell other people what to do,” McNally said.
The opposition
The Nebraska Family Alliance stands against online gambling and plans to campaign against the initiative across the state. The nonprofit group issued a statement that reads in part: “Online sports betting has been a massive public policy failure that benefits national sportsbooks at the expense of kids, student-athletes, families and businesses. While they have more money, they don’t have the truth.”
Pat Loontjer, director of Gambling with the Good Life, has opposed expanded gambling in Nebraska for 30 years.
“They’re telling the same lie — property tax relief. Well in Nebraska you say property tax relief and everybody says where do I sign,” Loontjer said.
Loontjer also raised concerns about the impact on young people.
“Sports betting on the phone is the most addictive thing for young people, young men especially. You’ve got kids that are going to lose their scholarships, lose their future,” Loontjer said.
What comes next
If enough signatures are verified and the issue is placed on the November ballot, Warhorse Casino officials say Nebraskans could be able to make sports bets on their phones by spring of next year.
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Along with marching in the parade, the high schools will tour the U.S. Capitol, visit Mount Vernon and other monuments and museums.
Around 80 Grand Island students are making the trip. Lee said the students cover their own costs, with fundraising largely run though the school’s booster program helping offset the expense.
Bishop Neumann’s 53 students benefited from community donations, along with a holiday greenery sale and fundraisers, which Kellett said helped cover airfare and other costs.
For both directors, the trip carries extra weight tied to the nation’s 250th anniversary.
“That’s a pretty big milestone,” Lee said. “And to be able to be a part of that is pretty neat.”
Kellett said the moment will stay with students long after the parade ends.
“These kids, they’ll be around for the 300th anniversary of the country, and they’ll be able to look back and tell their grandkids, ‘you know, I was there at 250 and was able to march in the National Independence Day Parade,’” Kellett said.
Both bands have spent the summer preparing. Grand Island started working on its music after its final spring concert in May, rehearsing its marching and music together on Tuesday evenings.
Bishop Neumann has rehearsed continuously over the summer and marched in two parades to prepare, a 150th anniversary celebration in Weston and the Papillion Days parade.
Kellett said the band’s last rehearsal in Wahoo drew residents who lined the streets holding signs and cheering the students on.
“The students have come in, and they’ve worked really hard,” Kellett said. “They have their music memorized and they’ve worked on their marching skills, and so all that effort into this they’re ready to go for the parade.”
The parade starts at 9:30 a.m. CT Saturday at Third Street and Constitution Avenue.
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