Local Economic Revitalization Tax Assistance Program
In order to give commercial and industrial property owners an incentive for renovating or rebuilding their properties, the City of Bradford and Foster Township both participate in a Local Economic Revitalization Tax Assistance Program. Improved properties may be eligible for a real estate tax abatement for up to five (5) years on the assessed improvements or new construction. Often, a major deterrent to improving deteriorated property has been that improvements result in higher property value and there, higher property taxes. LERTA provides an incentive for making an investment toward a more prosperous and beautiful Bradford.
The following real estate tax exempt schedule shall be in effect:
Period Improvement Portion Exempt
First Year 100%
Second Year 80%
Third Year 60%
Fourth Year 40%
Fifth Year 20%
After the fifth year, the exemption shall terminate.
LERTA applications should be submitted to:
City of Bradford
24 Kennedy Street
Bradford, Pa 16701