The Basics
- Residential property must be deemed uninhabitable due to environmental contamination
- Non-residential property must be deemed unusable due to environmental contamination
- A state or federal agency must designate the property as an environmentally hazardous site
- If the owner of the property caused the problem, he/she cannot transfer the base year value to a replacement property
- If the owner was aware of the contamination when the property was acquired, they cannot transfer the base year value to a replacement property
You may download the forms here.
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