Definition
Low-Income Housing Tax Credit program incentivizing construction of affordable rental housing through developer tax credits.
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Tax credits finance affordable housing development. Credits reward developers for including low-income units. LIHTC buildings provide stable affordable housing. LIHTC units have restrictions lasting 15-30 years. LIHTC is important affordable housing tool.
Pro Tip
LIHTC buildings have affordability restrictions lasting years; verify restrictions affect resale.
Example
Apartment complex developed with LIHTC financing providing 30% of units as affordable housing.