The North Dakota Land Valuation Model for 2012 estimated average land values for agricultural real estate tax assessment. The model used production values from cropland and non-cropland to determine county land values. In 2012, the average value per acre of all agricultural land in North Dakota increased by 29.14%, with cropland value up by 30.45% and non-cropland value up by 23.0%. The capitalization rate was 5.864%, the first time it was used since 2002. The increase in land values was due to a lower capitalization rate and higher crop production values. The change in crop revenue impacted land values, with some counties seeing increases of over 17%. Overall, the capitalization rate change increased land valuations by 26.19% in all counties, while the cost of production index decreased land values by 5.41%.