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2. The law states that eligible property must first be placed in service in Maine after April 1, 1995. Does this mean that if I purchase property from another Maine business, it is not eligible for this program?
Not necessarily. Eligible property purchased from another Maine business is still eligible if it was placed in service in Maine by the previous owner. The number of years that reimbursement was claimed by the previous owner, however, must be included on the current owner’s assessor notification.
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