The Harrisburg School District will benefit in the long-term from a city tax abatement program, city officials say, countering a recent assessment by the district.
On Monday, city Business Administrator Antonio Megna defended the Local Economic Revitalization Tax Assistance (LERTA) program, saying that it made financial sense for the district in the longrun.
Megna’s statement was in response to concerns expressed by the school district’s former chief financial officer, Marcia Stokes, who told TheBurg last week that the district forfeits the collection of roughly $278,000 in taxes per year under LERTA. The amount that compounds to $2.7 million over the course of the 10-year abatement period, she said…