LERTA

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CITY OF READING, PENNSYLVANIA

COMMUNITY DEVELOPMENT 815 WASHINGTON STREET

READING, PA 19601-3690

(610) 655-6253

 

TAMI DAVIES-COLEMAN

COMMUNITY DEVELOPMENT

MANAGER

 

 

LERTA

 

The City of Reading adopted the LERTA Program as a means of encouraging investment and reinvestment in industrial, commercial, and other deteriorated business property within the City of Reading limits.

 

LERTA, is the acronym for Local Economic Revitalization Tax Assistance Program, and is intended for industrial, commercial, or business property owners who are contemplating repair, construction, or reconstruction of industrial, commercial, or other deteriorated business property within the City of Reading limits.

 

The portion of the assessment of a property attributable to new construction or improvements to deteriorated property as determined by the Assessment Agency to be exempted from taxation each year for ten (10) years is indicated in the following schedule:

 

Year

Tax Exemption

1st

100%

2nd

90%

3rd

80%

4th

70%

5th

60%

6th

50%

7th

40%

8th

30%

9th

20%

10th

10%

Tax exemption terminates thereafter.

 

 

 

Eligible property owners should complete and submit the application, along with a copy of the building permit, to the City’s Community Development office as soon as the building permit is issued, but no later than thirty (30) days after the completion of the improvements.

For additional information or questions regarding the program, please contact:

Tami Davies-Coleman

Community Development Manager

(610) 655-6253

tami.davies-coleman@readingpa.gov