LD 1329
pg. 1
LD 1329 Title Page An Act to Establish Standards of Depreciation in Determining the Assessed Value... Page 2 of 2
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LR 1040
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 36 MRSA §6652, sub-§1, as amended by PL 1997, c. 729, Pt. B,
§1, is further amended to read:

 
1. Generally. A person against whom taxes have been assessed
pursuant to Part 2, except for chapters 111 and 112, with respect
to eligible property and who has paid those taxes is entitled to
reimbursement of those taxes from the State as provided in this
chapter. The amount of reimbursement is the lower of the taxes
paid on the eligible equipment or the taxes that would have been
paid had the property tax assessment been based on the adjusted
basis of the eligible property for federal income tax purposes as
of April 1st of the property tax year for which reimbursement is
claimed.__For purposes of this subsection, "adjusted basis" means
the net book value of the property after depreciation.

 
Sec. 2. 36 MRSA §6654, as enacted by PL 1995, c. 368, Pt. FFF, §2,
is amended to read:

 
§6654. Claim for reimbursement

 
A person entitled to reimbursement pursuant to section 6652
may file a claim for reimbursement with the State Tax Assessor.
The reimbursement claim must be filed with the State Tax Assessor
on or before 60 days after the tax is paid. The State Tax
Assessor may extend the date on which the claim for reimbursement
is due for good cause. Except as otherwise provided, the claim
must be accompanied by the statement obtained by the claimant
pursuant to section 6653 and any information required by the
State Tax Assessor to verify the adjusted basis of the property
for federal income tax purposes. If the claimant requests
reimbursement of an amount of tax that differs from the amount of
tax specified for the eligible property in the statement provided
by the assessor or assessors of the taxing jurisdiction, the
claimant must attach to the claim form an explanation of the
reasons for that difference and the State Tax Assessor shall
determine the correct amount of reimbursement to which the
claimant is entitled, taking into consideration both the
statement from the assessor or assessors and the taxpayer's
explanation. If, for any reason, the claimant is unable to
obtain the statement specified in section 6653 from the assessor
or assessors within the time specified in section 6653, the
claimant must attach to the claim form an explanation of the
amount of reimbursement requested and the State Tax Assessor
shall process the claim without that statement. If the property
taxes are billed in more than one installment, a claimant may
submit multiple claims for reimbursement corresponding to the
amount of property tax paid with each installment.


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