The Local Economic Revitalization Tax Assistance Act (LERTA), Act 76, provides tax breaks for commercial and industrial properties in specific areas to incentivize the redevelopment of aging or deteriorated properties. The LERTA abatement only applies to the assessed value of the improvements, not the existing value of the land or structure prior to redevelopment. The Act provides an additional mechanism for local taxing authorities to contribute to the economic development of their respective jurisdictions through the exemption of real property tax.