These new figures, researched by rural insurers NFU Mutual, show the sum to have come down from £1 million in 2013.
But despite this fall, Nottinghamhsire is still the 12th most affected county in the UK by crime in rural areas.
The survey showed machinery, vehicles and tools to be top items on thieves’ wish-list.
Animals, oil and bicycles are other targeted items.
Rebecca Stevens, NFU Mutual agent, is pleased the cost has declined and thinks it is down to community efforts.
She said: “While the survey contains some good news, it also highlights the need for rural communities to remain vigilant and put security at the forefront of their minds.”
The national cost of rural crime is an estimated £37.8 million in 2014 - 15% less than the year before.
A Crimestoppers UK spokesman said: “Crime affecting rural communities should never be underestimated, it can have a knock-on effect on all of us.”
Detective Chief Inspector Caroline Racher from Nottinghamshire police said tackling this issue is a priority.
She said: “It is good news that this type of crime is falling within Nottinghamshire and our rural areas remain safe places to live, work and enjoy.
Notts police have got a new team of officers will help to prevent and investigate these crimes and a new team of officers are helping to asses what they can do to help people from rural communities.