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County Offers Incentives For Business Development

December 7th, 2022

Potter County Commissioners Nancy Grupp, Barry Hayman and Paul Heimel have put in place a measure designed to create jobs and support economic development. A new ordinance passed unanimously by the board created tax incentives for construction or expansion of commercial properties. They could qualify for a temporary reduction of county real estate taxes. Under the county’s ordinance, adopted in 2021, qualifying property owners receive a 100-percent tax abatement in year one, 80 percent in year two, 60 percent in year three, 40 percent in year four, and 20 percent in year five.

A 1977 state law, the Local Economic Revitalization Tax Assistance (LERTA) Act, authorizes the tax incentive program to support business expansion and job retention/creation. The ordinance applies only to the county portion of real estate taxes. However, school districts, boroughs and townships could also implement a LERTA. To obtain a copy of the ordinance, call 814-274-8290, ext. 207.

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