LERTA

Local Economic Revitalization Tax Assistance (LERTA)

Moscow Borough, the North Pocono School District, and the Lackawanna County Commissioners recently adopted the Local Economic Revitalization Assistance Act (LERTA) to spur economic development in the C-1 or commercial zones of the municipality. Its purpose is to encourage building or expansion of commercial business within the Borough limits in the designated zones. If a business builds or expands, and if the assessed value increases with the expansion, the taxes will hold at their pre-development rate for five years. In the sixth year the taxation will be 25% of the new assessment; 30% the seventh year; 35% the eighth year; 40% the ninth year; 45% the tenth year; and 100% in the eleventh year.

Moscow Borough Council must grant an approval for each project submitted. Contact the Borough Office for further information.