Expiring Tax Credits Could Benefit Investors
Could a wave of expiring tax credits projects represent new opportunities for apartment building investors?
"Low-income housing tax credits are issued by the federal government and can be used by developers to offset income taxes if they build low-income housing. The credits, allocated by state housing agencies, have 10-year life spans but the developer/owner must, under federal rules, hold on to the properties for 15 years. The program was started in 1986 and took off in the late 1980s and early 1990s. Now, a wave of those 15-year deals is expiring -- or is about to -- and real-estate brokers see potential opportunities for investors."
Thanks to Chris Steins
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Published on Tuesday, May 25, 2004 in
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