Housing Tax Credit Program Report

A comprehensive study recently conducted by the National Association of Homebuilders (NAHB), and commissioned by the New Hampshire Housing, reveals the far-reaching positive economic impact of the Low Income Housing Tax Credit Program (LIHTC) for New Hampshire.

The LIHTC Program, which is administered by New Hampshire Housing in the Granite State, is used to fund affordable rental housing.  It operates by offering a dollar-for-dollar tax credit which is attractive to investors and generates private investment in the development of affordable housing projects.

According to the study, the estimated one-year economic impact of building 202 new tax credit units in New Hampshire include:

However, this positive economic activity continues beyond the one-year mark as residents of these affordable housing developments continue to spend money within the state. Throughout the course of day-to-day life, residents of affordable housing developments purchase groceries and other products locally; they support local services such as auto repair shops, health care providers, hair stylists and restaurants; and they pay local and state taxes and fees. The NAHB report says that such projects will generate $8 million in dollars and support 110 jobs annually each subsequent year!

Thus, the housing tax credit program clearly impacts our communities beyond the obvious benefits for the construction and real estate industries.

To learn more about the housing tax credit program and to view the report, click: http://www.nhhfa.org/rl_LIHTCImpact.cfm.

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