affordable housing tax credits

Affordable housing tax credits are government incentives designed to encourage private developers to build or rehabilitate housing that is affordable for low- and moderate-income families. When developers create such housing, they can receive tax credits that reduce their tax liability over a set period, making these projects financially viable. Essentially, these credits lower the cost of providing affordable homes, helping expand access to quality housing without solely relying on public funds. This program aims to increase the availability of affordable options in communities while benefiting investors through tax savings.