Norwin board approves tax-relief program
Norwin has signed on to a tax-relief program for property owners who make improvements in a portion of Irwin.
School directors on Monday approved a resolution adopting the Local Economic Revitalization Tax Assistance Act, or LERTA, which provides tax exemptions for improvements in "deteriorated" areas.
The boundaries of the LERTA district, approved by Irwin Council in May, involve all buildings from the western boundary line of the borough to:
• all buildings on the north along the railroad tracks;
• all buildings on the eastern side of Walnut Street; and
• all buildings on the southern side of Pennsylvania Avenue.
Exemptions from taxes would be limited to the property improvements.
Property owners can choose to have taxes on the improvements be 100 percent exempt for three consecutive years or choose gradual reduction for the exemption, from 100 percent in the first year to 20 percent in the fifth year.