In many instances that is due to the incredibly disparate property tax levy vs the income of the farm. I was around when it destroyed all but one of the Northern Virginia dairies before the last was belayed buy an “agricultural exemption”.
Many farms back east of the Mississippii, and probably into the plains, were in the several hundred acre range and if the farm is unfortunate enough to be near and expanding population center their taxes quickly go through the roof while their net income remains the same or creeps downward as they sell parcels to pay the taxes.
One of the only things California has ever done right with lasting results was passing prop 13, which limited the rate of growth of property taxes to a small (1.5% now?) annual increase over the purchase basis price. I have a condo here, and if property taxes rose like much of the rest of the nation I’d be paying something like 12K+ a year without prop 13. It drives politicians bugscew too, every cycle they try to pass something to undermine it.
Good points! Thanks!