LERTA is a real property tax exemption program on the additional assessment attributable to the actual costs for new construction or improvements to any industrial, commercial, or other business property located in the designated area. The taxes on the cost associated with the new construction or improvements will be exempted by a certain percentage over a 7-year timeframe until the 8th year, when the property owner would pay taxes on the full new assessment of the property.
The KIZ Tax Credit Program is a statewide incentive program that provides tax credits to for-profit companies less than eight years old operating within specific targeted industries within the boundaries of a KIZ. The map shows the location of two KIZ areas in Sunbury. For more information on the program follow this link to the Greater Susquehanna Keystone Innovation Zone Coordinator.
A QOZ is a community where new investments, under certain conditions, may be eligible for preferential tax treatment by the IRS. The program is designed to spur economic development and job creation. The map shows the boundaries of a QOZ located in Sunbury. The Greater Susquehanna Valley Chamber of Commerce engaged with the Ridge Policy Group to provide information on QOZ investment.
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