News

February 24, 2015

This Saturday: Grow Your Business with LERTA

Attention: Middle Smithfield  Township Commercial /Industrial property Owners

This Saturday: $ave Thousands of Dollars in Taxes

Local Economic Revitalization Tax Assistance Act (LERTA) Presentation

February 28, 2015-10:00A.M.-Whispering Pines Banquet Hall

Middle Smithfield Township Supervisors, together with the Monroe County Commissioners and the East Stroudsburg Area School District know that you- our business owners- are important to us all. We know that saving money on your taxes can help your business, and we want to do something about that!

Please join us on February 28, 2015 at 10:00am in the Whispering Pines Banquet Hall for an informal discussion and question and answer session regarding the proposed LERTA and how it can save you thousands of dollars a year in taxes.

Click here to view the event post on Facebook
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LERTA FAQ

[accordian][toggle title=”Q: IS IMPLEMENTATION COMPLICATED?”]
A: The LERTA program is implemented through the county’s Board of Assessment. It is a relatively simple program to implement. An application for exemption, developed in conjunction with the Assessment Office, may be secured from the Code Enforcement Office, must be filed with the Township at the time a building permit is secured and approved by the Assessment Office before commencement of the improvement, new construction and also before employing the services from interior design firms or contractors. Upon completion of the Improvement or new construction, the taxpayer sell notify the Monroe County Board of commissioners so that the board may have the Assessor assess the improvements separately for the purpose of calculating the amount of assessment eligible for tax exemption.[/toggle]

[toggle title=”Q: WHERE HAS A LERTA BEEN USED?” open=”no]
A: LERTA has been successfully offered in many Pennsylvania communities including Pocono Mountains Corporate Center East, Arcadia North Business Park and Pocono Mountains Corporate Center South.[/toggle]

[toggle title=”Q: WHAT IS A LERTA?” open=”no]
A: LERTA stands for the Local Economic Revitalization Tax Abatement Act, a state law adopted over 30 years ago to encourage economic development statewide. LERTA provides for real estate tax incentives for new construction or property improvements for business properties. LERTA does not apply to residential development.[/toggle]

[toggle title=”Q: WHAT IS ABATED?” open=”no]
A: The real estate tax assessment on new construction/reconstruction for nonresidential properties. The property owner will continue to pay at least the same amount of real estate taxes on the parcel that was paid prior to the LERTA. The proposed tax abatement schedule on new construction/reconstruction would be:

  • First year, 100% abated
  • Second year, 80% abated
  • Third year, 60% abated
  • Fourth year, 40% abated
  • Fifth year, 20% abated
  • Sixth year, 0% abated

On the sixth year the abatement terminates and the property pays the full taxes.[/toggle][/accordian]
Have questions of your own? Join us on Saturday, February 28<sup>th</sup> at the Whispering Pines Banquet Hall on 1445 Big Ridge Drive, East Stroudsburg PA 18302 at 10:00am!

Please contact us at 570.223.8920, ext. 100 to reserve seats.

Sincerely,
Middle Smithfield Township Board of Supervisors