- Easton Area School District's board approved a resolution to add nine LERTA properties on Tuesday
- LERTA allows for tax exemptions to stimulate redevelopment of aging and deteriorating properties
- Easton city officials have said post-LERTA, tax revenue to the school could increase nearly tenfold
EASTON, Pa. — Easton is one step closer to adding nine new LERTA properties throughout the city following approval from the Easton Area School District board on Tuesday evening.
Board members unanimously approved an agenda item that would add nine Easton properties to the Local Economic Revitalization Tax Assistance list, including 1-6 Center Square, 8 Center Square, 508 West Canal Street, four properties along Philips and Charles Streets, and 653 and 671 Bushkill Street.
LERTA is a tax abatement program created by the Commonwealth of Pennsylvania which authorizes local taxing authorities to provide tax exemptions. The purpose of this initiative is to incentivize the redevelopment of aging or deteriorating properties throughout commonwealth communities.
“We anticipate this being a good return on our investment and a good face for the community to work on their revitalization as well."Easton Area School District Superintendent Tracy Piazza
EASD currently receives $39,574.79 in taxes from these properties, according to Easton Community and Economic Development Director John Kingsley.
Post LERTA, that amount will increase to $389,230.46, Kingsley said.
“We've been working with the superintendent, communicating with her on any concerns that [the board] may have had, and also giving them any information they needed to make the decision tonight. It was wonderful work that they did, and we really appreciate their support,” Kingsley said.
Kingsley added the initiative, if passed by Northampton County, will bring “much-needed development” to the city, allowing for an increase in the assessed values of properties by approximately ten times on average.
“So now, we're really looking forward to actually creating additional tax revenue for all of the taxing bodies as a result of that,” Kingsley said.
EASD Superintendent Tracy Piazza noted Kingsley and the city government were “very forthright,” meeting with the board and administration several times to explain each of the projects and addressing concerns and questions along the way.
“Individually, we have engaged in similar projects with them over the course of the last 20 years, and they've all worked out favorably. So we had no concerns in that regard. They have come out as we expected them to, and so we don't feel any differently about this. We anticipate this being a good return on our investment and a good face for the community to work on their revitalization as well,” Piazza said.
Piazza said she expects it may take between 10 to 15 years before the district sees the projected returns on their investment, though in the end, it will be an invaluable expenditure when the money finally does come in.
“I've always felt that it's a win-win for the city and the district,” Board President Meg Sayago said.
Kingsley noted there is one last taxing body, Northampton County, which must approve the proposal before it is finalized, “and we’ll hopefully do that around the end of the year.”
