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Nw Iowa | IA Dave, Not arguing your math, but that is a super high tax rate for a building in rural Iowa. Also think depc would be more of a 40 yr number. But I agree, a good shed costs more than you think if you enter in all costs. Another way to figure is what is shed worth? Not what you paid for it 20 years ago, but what a conservative new cost would be. So if just a hay shed with a roof and no walls, a lot less than fully enclosed shed or shed with cement floor. Than figure a life of 40 years depreciation,( I think IRS is just short of 40 yrs on a storage building) a interest cost, ins and taxes.. If building is setting empty and not usable for much else than rate might be much lower, but your actual cost is a place to start. So here on a basic enclosed pole barn with no floor, closer to 20 a sq ft divided by a 40 yr life is .50 depreciation and interest of 5% on whole cost is a 1$ and say maintenance and taxes and insurance another .25 so 1.75 a sq ft. ( your costs on taxes and ins will differ) That would be a building that would perform like a new one, tall ceilings, no leaks, no birds and easy to use. And that is for a whole year. So if a normal older building with some leaks, too short for most things, no closed doors etc that rate would drop considerably and you are only renting it for a short period of the yr.
Above just a example of how you can figure what real cost to have building is. Up here in north land with blowing snow, our machine sheds quite abit different and more expensive than other areas that just need to keep sun and rain off equipment. | |
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Current shed rental rates
