Understanding Yukon Agricultural Appraisals

What is a Yukon Agricultural Appraisal?

A Yukon agricultural appraisal provides an independent estimate of market value or leasehold interest for agricultural land and improvements in the Yukon Territory. These properties may be privately titled farmland or agricultural leases under the Yukon Agriculture Lands Program, with specific requirements tied to land use, tenure, and development.

Agricultural appraisals are used for financing, sales, lease negotiations, succession planning, tax assessments, and government transactions. They account for both land productivity and infrastructure, as well as the regulatory framework unique to agricultural land in the North.

Key Factors in Yukon Agricultural Appraisals

• Land Tenure – Properties may be freehold or leasehold (under government agricultural agreements), each with different valuation considerations.

• Agricultural Use & Productivity – Type of use (e.g. hay, grazing, market gardening, poultry), soil quality, drainage, and climate suitability.

• Development & Compliance Requirements – Leased agricultural land often has development timelines, usage restrictions, and non-transferability clauses that affect value.

• Location & Access – Proximity to Whitehorse, Dawson, Mayo, Haines Junction, or other rural communities, as well as year-round road access.

• Site Improvements – Fencing, irrigation, cleared land, greenhouses, driveways, and outbuildings such as barns or workshops.

• Residential Dwellings – Value of any farmhouses or cabins located on the property, if applicable.

• Zoning & Land Use Designations – Designated for agriculture, rural residential, or mixed use under the Yukon Land Use Planning Framework.

Approaches to Value in Agricultural Appraisals

1. Direct Comparison Approach (Primary Method)

   • Compares the subject property to recent sales of similar agricultural land in Yukon or northern jurisdictions.

   • Adjustments made for tenure, land quality, site improvements, and permitted uses.

2. Cost Approach (Used for Buildings & Improvements)

   • Values farmhouses, barns, and permanent infrastructure based on replacement cost new minus depreciation.

3. Income Approach (Occasionally Used)

   • Applied to income-generating farms or leased agricultural holdings. May consider revenue from crop or livestock production, depending on available data.

When is an Agricultural Appraisal Needed in Yukon?

• For Agricultural Lease Transfers or Subleases – Required by government to assess fair value.

• For Financing or Refinancing – Used by lenders to secure loans for agricultural land or operations.

• For Buying or Selling Agricultural Property – Establishes fair market value for both freehold and leasehold transactions.

• For Succession or Estate Planning – Determines value for farm transfers or family inheritance.

• For Tax Assessment Appeals – Ensures accurate land valuation for property tax purposes.

• For Insurance or Expropriation Claims – Used to assess land and improvements during land disputes or public takings.

What is Included in a Yukon Agricultural Appraisal?

• Land Value – Based on size, productivity, tenure, and location.

• Site Improvements – Fencing, land clearing, irrigation systems, drainage, and access roads.

• Buildings & Infrastructure – Farmhouses, barns, greenhouses, storage buildings, and utilities.

• Leasehold Interest (if applicable) – Valuation of the remaining lease term, subject to Yukon lease policies.

• Market Conditions & Regional Trends – Supply, demand, and economic factors affecting the Yukon agricultural sector.

• Final Market Value Estimate – Professional opinion of value based on relevant approaches.

What is NOT Included in a Yukon Agricultural Appraisal?

• Livestock or Equipment – Tractors, implements, and animals are appraised separately as business assets.

• Inventory & Crops in Production – Standing hay, vegetables, or grain crops are not typically included.

• Future Speculative Uses – The appraisal is based on current legal use, not speculative subdivision or commercial development.

• Water Rights or Special Use Permits – Unless specifically transferred with the property.

Why is a Yukon Agricultural Appraisal Important?

• Supports Fair and Informed Transactions – Establishes a clear, objective value for all parties.

• Complies with Territorial Regulations – Meets government requirements for lease transfer and valuation.

• Protects Landowners, Buyers & Lenders – Ensures agricultural land is appropriately valued in Yukon’s unique market.

• Assists with Planning & Investment – Informs development decisions, succession strategies, and long-term land stewardship.

A professionally conducted Yukon agricultural appraisal provides a balanced, region-specific valuation of rural land and farm assets, supporting sustainable agricultural use and responsible financial planning in the territory.