Low Income Housing Tax Credit
What is the Low Income Housing Tax Credit program?
The Low-Income Housing Tax Credit (LIHTC) program provides housing for low- to moderate-income renters in exchange for tax credits for the developers. The LIHTC program is overseen by the Tennessee Housing and Development Agency.
What is the waiting list and application process?
Individual tax credit buildings maintain waiting lists, and wait times vary depending on the building and the area.
Individuals are screened by property ownership and management. IRS regulations specify that projects financed through the LIHTC program are not required to collect Social Security numbers from potential residents. However, LIHTC projects still ask for Social Security numbers on applications and use them to determine applicants’ financial eligibility and suitability as tenants. Failure to provide Social Security numbers could delay an LIHTC property’s ability to review their applications for housing.
Where are Tax Credit properties located?
Tax Credit apartments are located in or near most major cities and towns throughout Tennessee. For a list of apartments in your area, contact the Tennessee Housing and Development Agency at www.thda.org or by telephone at (800) 228-8431.