Appraisers tell Lancaster board easement value depends on comparables and local demand

Gerald Eberly of Eberly Appraisal told the Lancaster County Agricultural Preserve Board that “an easement valuation appraisal is essentially two appraisals in one report to arrive at the value of the agricultural conservation easement.” He said appraisers first estimate a farm’s fair market value using three to five comparable unpreserved sales, then separately estimate an agricultural (preserved) value using preserved comparables; the difference produces the appraised easement value.

Eberly and colleague Zach Eberly walked the board through common adjustment factors — location, size, road frontage, soil quality, proximity to utilities and the likelihood of future development — and stressed that subdivision rights and overall productivity can heavily influence value. Gerald Eberly also observed that in Lancaster County preserved farms can be worth almost as much as unpreserved farms because of strong local demand, which reduces easement payments compared with places where demand is weaker.

Director Matt Knepper summarized staff data: "last year the average appraisal on farms was $4,700.00 an acre." He said a 20‑year lookback showed farmland values up roughly 200–300% while average appraised easement values rose about 45% in the same period, meaning the share returned to a landowner at preservation has fallen from around 30% historically to perhaps 10% or less in recent years. The board’s discussion focused on methodology and market pressure rather than policy changes.