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Tax Incentives

Every building constructed in the Glenmaura Corporate Center receives a 10 year, 100% real estate tax abatement on improvements via the LERTA Program.

This abatement program was approved by the County of Lackawanna, the Riverside School District Board and the Borough of Moosic.

For illustration purposes, a tax rate of $2.00 per square foot was used for the first year for a 100,000 sq. ft. building. The tax savings examples below show modest annual increases thereafter for a ten year period. Actual real estate taxes may vary depending upon the cost of construction required to meet a tenant’s exact specifications.

YearTax RateAbatementProperty Tax Due On ImprovementsProperty Tax Savings
12.00100%0.00$200,000
22.02100%0.00$202,000
32.04100%0.00$204,000
42.06100%0.00$206,000
52.08100%0.00$208,000
62.10100%0.00$210,000
72.12100%0.00$212,000
82.14100%0.00$214,000
92.16100%0.00$216,000
102.18100%0.00$218,000

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