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
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