Chalfont LERTA zone approved! The Chalfont LERTA zone (Pennsylvania Local Economic Revitalization Tax Assistance Act (LERTA) tax break) has been unanimously approved by the Central Bucks School Board.
Commercial property owners in Chalfont Borough can now apply for a five-year tax exemption on new construction in the designated areas of Butler Ave and Main Street. Property owners must apply for the LERTA exemption within 60 days of applying for a building permit for any additions to their property.
The LERTA tax break is part of a Chalfont Borough initiative to foster economic development. The LERTA tax break only affects the tax assessed value of the improvements, not the properties tax assessed value prior to the improvements. This marks the first time a LERTA tax abatement has been approved by the Central Bucks School District.
Learn more about the Chalfont Borough LERTA program