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[email protected] jw@myplace.com is offline
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Default Looking to valuate residential propane tank

On Mon, 26 Sep 2011 16:25:28 -0700 (PDT), gwandsh
wrote:

Hi all

We have a residential propane tank beside our rural cabin. It was
filled, at least partially, with fuel for inspection and testing when
we bought the place about 7 years ago. We guesstimate the tank to be
150 or 200 gallon - the smaller horizontal cylinder style on
"braces". We are checking our paperwork, but we believe we were
charged for 100 gallons of propane during the fill/test.

The existing propane heater, etc were in sad shape, and when we
finally replaced them we opted for electric appliances instead. The
propane lines were capped and the tank has sat unused since then.

We suspect we will never use it, and want to either sell it or donate
it to a needy cause. If we donate it, we were hoping to get a receipt
for tax purposes.

We are looking to determine what fair market value would be for a
(call it) 200 gallon tank with an estimated 100 gallons of propane in
it? Obviously I can guesstimate the value of the propane from local
prices - but can I assume the propane would still be usable, or is
being partially full a bad thing in this case? Maybe somebody has a
similar tank and can remember what they paid for it initially, minus
the fuel?

Tnx


I use propane and own my 500 gal. tank.

Tanks are generally sold in 125, 250, 500, 750, 1000 gallon sizes.
You likely have a 125 or 250.

The gas does not go bad.

The guy who told you to scrap the tank is an idiot. A local propane
company tried to sell me a 500 gallon used tank that was over 50 years
old. They inspected it and wanted $750 for it. I told them what to
do with it, went to a different company and bought a brand new tank
for $900. That was several years ago before steel prices went high.
I know it would cost much more now. I regularly see used tanks sell
for half the price of new tanks at auctions (or less) and they sell
fast.

Did they FILL the tank, or just add 100 gallons? Tanks only hole 80%
of their listed amount, thus a 500 gallon only can hold 400 gallons.
Yea, that is misleading.....

I agrees, you can not legally move a filled tank. 100 gallons is
probably managable, but I surely would not try to move any larger one
with gas in it. Propane companies will pump it out and pay you for
it, minus their costs, which means you may not get too much money.

Why not connect a garage heater and use it there, or as others said
connect your BBQ and have enough gas for years...

BTW: Where are you located? If you're anywhere close, I might buy it.

The gallon rating should be stamped on it somewhere.