low-income housing tax credits

Low-Income Housing Tax Credit

A dollar-for-dollar reduction in one's tax liability due to an investment in a housing complex for low and moderate income persons. The rent on this type of housing is controlled, so return on investment is minimal. The low-income housing tax credit provides some cash flow on these investments; as a result, it accounts for the vast majority of low-income housing investments in the United States. See also: Low-income housing limited partnership.

low-income housing tax credits

A package of allowed tax credits issued by the IRS to state housing agencies.The IRS has formulas for determining the size of credits issued to each state.The state housing agency then reviews applications from developers who wish to build or rehabilitate lowincome housing and receive the benefit of the tax credits. If approved, the state agency will then award a certain amount of tax credits to the developer,who may use them on its federal income taxes.

References in periodicals archive ?
The numbers are "crackerjack," Silverstein insisted, now that he can get six percent money, a 40-year self-liquidating loan from the FHA for construction and permanent financing, low-income housing tax credits, triple tax.
Fannie Mae is the largest purchaser of low-income housing tax credits in the country, typically through a nationwide network of approved syndicators.
The residential component is eligible for approximately $2 million of federal low-income housing tax credits and an "as of right" real estate tax abatement from New York City.
Since its inception in 1985, Firstar Bank's Community Development Corporation has invested more than $120 million in historic rehabilitation and low-income housing tax credits in Missouri.
But in a time of fiscal conservatism, where direct grant or subsidy is out of the question, other methods such as the 421A tax abatements and low-income housing tax credits must also be utilized.
Alliant), a privately-held national leading syndicator of low-income housing tax credits (LIHTC), announced today that it has closed $175MM of Alliant Tax Credit Fund 83.
There, the court held that low-income housing tax credits (LIHTC) and accompanying property restrictions affect the amount that a willing buyer would pay to purchase real estate and thus the fair market value of the property.
Maria Guzman brings seven years of experience working with low-income housing tax credit buildings, and is a Certified Credit Compliance Professional (C3P) for low-income housing tax credits.
Patrick announced May 9 that Paxton's senior housing project, planned for 30 acres of town-owned land on Holden Road, was one of 31 across the state that had been granted federal subsidies and state and federal low-income housing tax credits.
99 million in federal low-income housing tax credits, another $250,000 in state tax credits and $8.
The Enterprise Foundation will provide up to $75 million in private equity to developers from the sale of low-income housing tax credits.
Major sources of funding for these projects are mitigation fees, inclusionary zoning in-lieu fees, low-income housing tax credits and Community Redevelopment Agency tax increment bond proceeds.

Full browser ?