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L.E.R.T.A.

Local Economic Revitalization Tax Assistance Act

The Local Economic Revitalization Tax Assistance Act is an act that allows local taxing bodies to temporarily exempt any improvements to certain deteriorated industrial, commercial, and other business properties located in a designated deteriorated area.

The local taxing body then can gradually decrease the amount of exemption over a period of time, ten years, until the taxes have no exemption. To apply for exemption you must first obtain a building permit in the appropriate township. Once a permit is granted you must seek an application at the Clinton County assessment office.

Example Exemption Schedule
Year % Ded. on Improvements % Tax Collected
1st 100% 0%
2nd 100% 0%
3rd 90% 10%
4th 80% 20%
5th 70% 30%
6th 60% 40%
7th 50% 50%
8th 30% 70%
9th 10% 90%
10th 0% 100%