Transparency · Primary Sources
All data cited in the Land Research page is drawn from government databases, federal reports, and established financial publications.
Land price data
USDA NASS Land Values 2025 Summary (Official Report)
Primary federal source for US farmland values. Reports US farm real estate averaged $4,350/acre (+4.3%), cropland at $5,830/acre (+4.7%), and pasture at $1,920/acre (+4.9%). State-level breakdowns including NY cropland at $4,010/acre (+4.2%) and TX cropland +5.4%.
View source →USDA NASS 2025 Land Values Highlights (PDF)
Companion highlights document with state-by-state cropland and pasture value tables. Source for TX Far West region (+15.8% YoY) and Northern Plains regional comparisons.
View source →American Farm Bureau Federation: Farmland Values Hit Record High
Independent analysis of the 2025 USDA Land Values Report. Confirms the fifth consecutive annual increase in agricultural land values and provides context on rising land values vs. softening commodity prices.
View source →Annual property taxes
California Property Tax 2026: Prop 13, Prop 19, Mello-Roos and County Rates
Comprehensive guide confirming the 2% annual assessment cap for existing owners, full market-value reassessment for new buyers, and effective rates of 1.15-1.35%+ when school bonds and Mello-Roos are included.
View source →California Proposition 13 and 19: Property Tax Rules Explained
Explains how Prop 13 rolled back assessments to 1975 values, set the 1% base rate, and capped annual increases at 2%. Confirms reassessment occurs only on change of ownership or new construction.
View source →Texas Property Tax Increases 2026: The 10% Homestead Cap Explained
Confirms Texas Tax Code Section 23.23 limits annual assessed value increases to 10% for qualified homestead properties. Direct comparison to California's 2% Prop 13 cap showing TX allows faster tax bill growth.
View source →Texas Homestead Exemption and Homestead Cap Explained
Official county appraisal district explanation of the 10% homestead cap under Texas Tax Code Section 23.23, with worked numerical examples. Confirms cap applies to assessed value, not market value, and resets upon sale.
View source →Texas Property Tax Calculator 2026
Confirms Texas effective property tax rate averages 1.8% statewide and the $100,000 homestead exemption for owner-occupied primary residences.
View source →Capital gains taxation
California Capital Gains Tax on Real Estate 2025/2026
Confirms California taxes capital gains as ordinary income at the full state rate of up to 13.3% with no preferential long-term rate. Combined with federal rates, California residents can face total rates above 37% on maximum-bracket capital gains.
View source →California Income Tax 2025-2026: Rates, Capital Gains and Property Tax
Confirms California's progressive income tax of 1-13.3% applies to capital gains with no preferential state rate. Notes combined federal and state rates can exceed 33% on long-term gains.
View source →California Property Tax 2026: New Buyer Impact
Explains the Prop 13 reassessment mechanism from the buyer's perspective. Confirms new buyers in 2025/2026 face higher effective tax rates. Effective rates commonly run 1.15-1.35%+ in many ZIP codes.
View source →Real estate commission
Agent Commissions Edge Higher in 2025, One Year After Landmark NAR Settlement
Confirms that despite 2024 seeing the lowest average commission in five years (5.32%), rates rebounded to near pre-settlement levels (~5.49%) by 2025. Commission rates increased in 39 states between 2024 and 2025.
View source →Measuring the Impact of the NAR Settlement on Agent Commissions
Redfin analysis showing average buyer's agent commission was 2.4% in Q1 2025, up slightly from 2.37% in Q4 2024. Confirms commissions inched higher for homes under $1M since August 2024 rule changes.
View source →Why a Landmark Real Estate Commission Settlement Has Not Lowered Costs
Independent analysis confirming the NAR's $418M settlement introduced structural changes but has not produced the 50% commission reduction many predicted. Documents the rebound in buyer agent commissions through Q1 2025.
View source →Real Estate Commission Explained: 2025 NAR Lawsuit Impact
Plain-language explanation of the two key changes effective August 17, 2024: removal of buyer agent compensation from MLS listings, and mandatory written buyer-agent agreements before property tours.
View source →