<p> The problem studied in this thesis is variations in assessed farm values in a selected area of Grey County, Ontario. A random sample of eighty farms was taken from four townships located in the vicinity of the city of Owen Sound.</p> <p> Data was collected on distance to the city, farm size, quality of buildings, soil, land use and type of road. Hypotheses were developed and tested with the use of multiple regression. The analysis provided empirical proof of the validity of the a priori hypotheses. The directional impact of the variables can be predicted.</p> <p> Two of the variables, quality of buildings and size of farm were found to be statistically significant. The low level of explanation of the variation in farm values is related to the size of the sample and to the relative uniformity of conditions in the area being investigated.</p> <p> The use of actual sale values, a larger sample and a more diverse area near a city that is an important market centre is recommended as a basis for further research.</p> / Thesis / Candidate in Philosophy