If you thought the price of housing had increased significantly, farm property prices in Essex County have gone through the roof.
At the Annual General Meeting of the Essex County Federation of Agriculture, the farm community got an update from Municipal Property Assessment Corporation (MPAC).
Federation President Lyle Hall says they received an update comparing the valuation of farm property from 2012 to 2016. He says in those four years the difference is staggering.
"In that time frame we've gone up another 65% in value," says Hall. "That value is farm sales from farmer to farmer where prices have gone up."
He says land values rose because of prices for corn and soybeans, which have now softened.
"It's the way it is but it was driven by higher commodity prices and now those commodity prices aren't here."
Hall says many of the farm operations are family run and they would like to stay that way, but it won't be easy.