LERTA - Tax Abatement Program

LERTA Program Overview:

The Local Economic Revitalization Tax Assistance (LERTA) Act was created by a Pennsylvania Department of Commerce task force charged with the task of evaluating the state's role in economic development and to recommend new or modified programs where needed. LERTA allows local taxing authorities to exempt improvements to business property for a period of time from tax assessments.

Cost Certainty (County/Township Confirmation):

The Subject Property benefits from unique cost certainty, as Lebanon County and Union Township have confirmed the exemption schedule for assessed value for the duration of the 10-year LERTA abatement program and beyond:

LERTA - Tax Abatement Program Table

Stabilized Tax Rate Roughly 44% Lower Than Neighboring Counties:

Stabilized taxes at the Subject Property will total $0.48 per square foot. Below is a summary of average annual real estate tax expense for 4-5 comparable distribution centers in neighboring counties:

LERTA - Tax Abatement Program Table