What is the Low Income Housing Tax Credit (LIHTC) Program?

The Low Income Housing Tax Credit (LIHTC) program is a tax incentive designed to increase low-income housing availability. This tax credit can be claimed by developer-owners of LIHTC properties on their federal income taxes for up to ten years after the property’s completion and leasing up. The tax credit is available as long as the property adheres to LIHTC requirements.