Low-Income Housing Tax Credit

The Low-Income Housing Tax Credit (LIHTC) is a U.S. government program designed to encourage the construction and rehabilitation of affordable rental housing. It provides tax credits to developers who create housing for low-income families. By offering these credits, the government helps reduce the overall cost of building, making it more financially viable for developers to offer lower rent to tenants. In essence, LIHTC aims to increase the availability of affordable housing options, making it easier for low-income individuals and families to find stable homes.