Low Income Housing Tax Credit Certification

Determine how to certify your low income housing property for tax credits.

Low income housing tax credit certification is how owners of housing rental properties document their tenants have low incomes. Certification is done through the individual's state housing and finance department and once certified, the property owner receives a tax credit on his property.

Applying for Certification

Applying for low income housing tax credit certification involves completing a verification form that includes property and tenant information. Every individual residing in the housing unit must be listed, along with annual income, assets, public assistance and social security information for every individual.

Length of Certification

Once a property owner has been certified for the low income housing tax credit, they must continue to reapply annually. Recertification forms are different from original forms but they must be filed at the same location, the state housing and finance department.

Income Limits

Income limits for receiving low income housing tax credit certification are determined by the city or county, depending on the individual's state. In 2009, the income limit range in the U.S. for a one-person household was between $24,000 and $64,000 a year.

References

• New Hampshire Housing: Tenant Income Certification
• Arkansas: Low Income Housing Tax Credit Program
• Novogradac & Company, LLP: Income Limits

Resources

• Low Income Housing Tax Credit