Housing Tax Credits

Housing tax credits are a way of encouraging developers to create affordable housing. In return for setting aside a percentage of units in your rental development for low-income tenants, you receive tax credits which help offset the cost of construction. 

The process of how we distribute the tax credits is outlined in our Qualified Allocation Plan (QAP).

• 2022 QAP

We administer both 4% and 9% Housing Tax Credits. The type of development financing you propose will determine the type of credit you apply for.

To be eligible for the program, a housing development must meet any of the following federal requirements:

• 20% or more of the units are both rent-restricted and occupied by tenants whose incomes are 50% or less of the Area Median Income (AMI); or
• 40% or more of the units are both rent-restricted and occupied by tenants whose incomes are 60% or less of AMI; or
• 40% or more of the residential units in the project are both rent-restricted and occupied by individuals whose income does not exceed the imputed income limitation designated by the taxpayer for the respective unit. The average of the imputed income limitations designated must not be more than 60% of the area median gross income. The designated imputed income limitation of a unit can only be 20%, 30%, 40%, 50%, 60%, 70%, or 80% of the area median gross income.

Learn how the application process works for both the 4% and 9% Housing Tax Credits and how to apply for each.

We provide access to all competitive and non-competitive Housing Tax Credit reservation applications and market studies for your review.

This page contains additional information about the Housing Tax Credit program, such as videos, forms, guidelines, requirements and more.