Saturday, December 2, 2017

How states generate money from the land they own - Full Article

From Arizona to Oregon, states have different tactics to make money off their state trust lands.
Anna V. Smith ANALYSIS Nov. 27, 2017

When Western states joined the Union, the federal government granted them parcels of land in order to provide sustained revenue for public institutions, primarily schools, and to spread democratic ideals in the growing region. Older states, such as California and Oregon, have little acreage left today because they quickly sold off their “trust lands” to generate money — a move that clashed with the federal government’s long-term vision for those lands. So when newer states like Arizona and New Mexico received their trust lands, the federal government, and sometimes the states themselves, placed restrictions on sales, such as minimum prices. Today, these states retain much of their original acreage, and generate money primarily by leasing parcels to developers and the extractive industry. There are 46 million acres of state trust land in the U.S., most of it in the West. Here’s a look at the different approaches Western state take to these lands...

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