Tax Abatement

LERTA

The Local Economic Revitalization Tax Abatement (LERTA) is a tax abatement incentive to encourage improvements, rehabilitation and new construction to qualified commercial properties throughout the entire county. LERTA applies tax abatement to the value of the increase in property tax assessment due to property rehabilitation or new construction. Generally, major improvements to a property will trigger a property reassessment by the county assessors office. LERTA provides up to a 10-year property tax abatement of a certain percentage of the taxes owed.