Pole barns are often found on a farm and used for storage. Typically, they are constructed with timbers, do not have a concrete foundation, and are relatively inexpensive. There is some controversy over whether they increase the value of the property versus the cost. A review of the information provides some support for increasing property values, but you decide.
Capital Expense
According to the IRS, a pole barn will increase the value of the property and the cost of the barn is deductible. The downside to the deduction is that it is deductible after the property sells when it’s deducted as a capital expense. The capital expense can lower the profit on the property, but it is made up with less capital gains tax. If you are not selling the property right away, it can be depreciated over the life expectancy of the barn if it is used for business purposes.
Environmentally Friendly
Pole barns can be constructed from rough-cut lumber that is better for the environment. You can also purchase used poles from utility companies to keep the cost down and recycle. The roof support can be from recycled materials as well.
Permits and Taxes
You will need to check local building codes and get the proper permits prior to construction. You will also need to check the homeowner association rules and regulations. Check with the local property taxing authority because the pole barn can increase the value of your property and the taxes that go along with the property value.
Overall, pole barns are relatively inexpensive to build. They can add value to your property with an environmentally friendly structure. A pole barn can provide additional to tax breaks that can offset the cost of construction.
If you're looking for horse barns or pole barns construction services, contact the experts at Eastern Buildings LLC today!