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Housing Tax Credit Basics - FAQs 2026
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- Click ‘Get Form’ to open it in the editor.
- Begin with Part I: Development Data. Fill in the Property Name, County, BIN#, Effective Date, TDHCA#, Unit#, Number of Bedrooms, and Move-in Date. Ensure all fields are accurately completed for proper documentation.
- Proceed to Part II: Household Composition. Here, you will provide details about each household member. Complete the required fields including Household Member Full Name, Relationship to Head of Household, Student Status, Sex, Date of Birth, Race, Ethnicity, and whether they are Disabled.
- In Part III: Student Status, check the appropriate box (A, B, or C) based on your household's situation regarding student status. If applicable, provide additional information as required.
- Move to Part IV: Rent. Indicate if your household receives rental assistance and specify the source if applicable.
- Finally, complete Part V: Household Certification & Signatures by signing and dating where indicated to certify that all information is true and accurate.
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What is the eligible basis in LIHTC?
Eligible basis is a component of the qualified basis of an LIHC project. It is generally equal to the adjusted basis of the building, excluding land but including amenities and common areas. Existing Building. An existing building is a building that has been previously placed in service.
Why do investors buy tax credits?
A tax credit directly reduces your tax bill dollar-for-dollar, as opposed to deductions, which lower your taxable income. Providing a substantial financial benefit is an effective incentive for certain investments or actions, such as renewable energy.
How do investors make money from LIHTC?
The Structure of LIHTC Investments LIHTC operates by providing tax credits to developers, who then sell these credits to investors to raise equity for their projects.
What are the benefits of investing in the LIHTC?
Financial Benefits For investors, purchasing LIHTC offers a direct reduction in federal tax liability and can be a stable, long-term investment. This symbiotic relationship between developers and investors facilitates the creation of affordable housing, benefiting both parties and the broader community.
Why do banks invest in LIHTC?
Who Invests in LIHTCs? There are two main types of LIHTC investors currently in the market. Financial Institutions: LIHTC investing compliments the familiarity banks have with real estate underwriting and can also help meet their goals under the Community Reinvestment Act (CRA).
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How do developers make money on LIHTC?
Affordable housing developers monetize these tax credits by selling them to investors or tax credit syndicators who aggregate tax credits from different projects into a single fund and solicit investments from other private investors.
How do housing tax credits work?
The Low-Income Housing Tax Credit provides a tax incentive to construct or rehabilitate affordable rental housing for low-income households. The Low-Income Housing Tax Credit (LIHTC) subsidizes the acquisition, construction, and rehabilitation of affordable rental housing for low- and moderate-income tenants.
What is the 10 year rule for tax credits?
10-Year Rule: The building is eligible for acquisition credit so long as the existing building was not placed-in-service during the 10-year period preceding the acquisition.
Related links
The LIHTC program allocates Federal and State tax credits to qualified developers to construct rental units for low to moderate-income renters.
How do I apply for Tax Credits? Nine percent (9%) credit applicants may complete a voluntary Pre-Application; 4% and 9% credit applicants must complete theRead more