Erie’s citywide tax break program — considered crucial to both residential and commercial development — is now firmly in place for at least the next five years.
Erie County Council on Tuesday unanimously approved a five-year extension of the city’s Local Economic Revitalization Tax Assistance program through July 31, 2029. Council took that action without discussion.
LERTA provides 10-year property tax abatements for new construction or improvements at residential/commercial properties citywide.
Why was a County Council vote necessary?
The city of Erie’s LERTA ordinance included what’s known as a sunset provision, which meant that citywide LERTA tax breaks were set to expire on July 31 unless the three taxing bodies that signed off on them — the city of Erie, the Erie School District and Erie County government — took official action to extend the program.
Erie City Council approved a citywide expansion of the city’s LERTA program in June 2019, and the changes took effect in early July of that year. The school district and county government also signed off.