Summit to Look at Assessments of Tax-Credit Housing
NAHB Multifamily is preparing a seminar to assist users of the Low Income Housing Tax Credit who are having problems with local jurisdictions that are treating them the same as owners of market-rate properties when it comes to taxes.
In their efforts to provide affordable rental housing, developers who use the credit already have to deal with a considerable amount of regulation, and rents of tax-credit properties cannot be raised to compensate for higher tax assessments from localities.
NAHB's Housing Credit Group will host a summit on local tax assessment of Low Income Housing Tax Credit properties in Boston on Sept. 17, the day before the start of the NAHB Fall Board of Directors Meeting.