LERTA Incentives: Waynesboro getting boost from county
Waynesboro is getting an economic boost from Franklin County.
Franklin County Commissioners passed a resolution last week to extend the Local Economic Revitalization Tax Assistance (LERTA) program application period for an additional five years for eligible property owners within the Borough of Waynesboro.
“We strongly encourage eligible property owners to take advantage of this tax incentive program,” said Commissioner Chairman Dave Keller.
The LERTA program supports improvement of commercial and industrial properties by providing county tax benefits on the improved portions of properties. Since it began in 2014, eleven properties across Franklin County have benefitted from county tax exemptions through the LERTA program.
LERTA: A win-win for community
“I’ve had extensive experience with the LERTA program in Antrim Township,” said Commissioner John Flannery. “The program increases our property values, adds employment opportunities; and expands the tax base while helping to attract businesses with the assets to improve properties within Franklin County. It’s a win-win for our business community as well as all of our taxpayers. I will continue to support the LERTA program in all of our municipalities. It is yet another avenue to improving the quality of life and economic prosperity of Franklin County.”
The LERTA program allows for a 100% tax exemption on improvements which gradually decreases over six years. In the first year of the program, the property owner participant pays no taxes on the improved portion of their property. They will pay 20% in the second year; 40% in the third year; 60 percent in the fourth year and 80 percent in the fifth year. Payment of the full tax bill begins in the sixth year.
“LERTA is a valuable tool for the renovation and reuse of urban property,” said Commissioner Bob Ziobrowski.
Franklin County Resolution No.4 of 2014 includes the map of eligible properties established by the Waynesboro Borough Council.
For questions on this LERTA program, please contact the Borough of Waynesboro at 717-762-2101.