Purchase of Substitute Personal Property

If an item of personalty is not moved but instead replaced with a substitute item that performs a comparable function at the replacement site, the owner is entitled to payment for the lesser of:
  • the substitute item cost, including installation cost at the replacement site, minus any sale or trade-in proceeds from the displaced item; or
  • the estimated cost of moving and reinstallation cost (if currently in operation at the displacement site), with no allowance for storage.