Tuesday, October 24, 2006

Bethlehem City Council committee to discuss tax program

Bethlehem City Council's community development committee will review a proposed renewal of the city's tax-abatement program during its meeting at 7 tonight in Town Hall. The 20-year-old LERTA, or Local Economic Revitalization Tax Assistance, program would apply to new properties under changes pending approval from the city, Bethlehem Area School District, and Lehigh and Northampton counties. Approval would continue the program for two years.

LERTA has two components: for new development and for rehabilitation projects. Both eliminate property taxes for the first year on the amount the property's assessment increases over the pre-improvement assessment.

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