Submitted by ToffeeFever t3_10oqjg4 in Pennsylvania
wagsman t1_j6jcsu9 wrote
LERTA only works to an extent. How often is the land sold? That's when you make the revenue. Say a developer buys the land. They pay the tax 1 time. In 10 years when they will start owing property tax, they will sell the property to the tenant and move on. If the tenant is smart, they too move on.
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Meanwhile, what was built on that land? 5 warehouses? Cool none of them are paying a dime towards roads, schools, fire protection, none of it. It's still stuck on this idea that if you bring in businesses by promising low or no taxes that that is good for the communit, but it doesn't do anyone any good because the moment they are forced to start paying taxes they move somewhere else.
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