Crafting the Perfect State Tax Credit

By Caitlin Jones
December 13, 2010 2 min read

Tax Credit Advisor, December 2010: With funding gaps for new tax credit projects quite common, state tax credits are more important than ever in providing the extra juice to get deals to closing. But state tax credits vary widely in their structure and appeal to developers and investors, with significant pricing differences that greatly alter the amount of equity that they generate for real estate projects.

So what is the recipe for the perfect state tax credit?

At a National Council of State Housing Agencies’ conference earlier this year, tax credit professionals provided their “wish list” of the ideal traits of state tax credits to make them appealing and produce the greatest, most efficient subsidy for projects. While many of their comments related to state housing tax credits, which are often paired with the federal low-income housing tax credit, some of their suggestions also have applicability to other kinds of state tax credits as well, such as state historic tax credits. In fact, more than 30 states have their own state historic tax credit or tax incentive for historic rehabilitation, and many projects pair state historic tax credits with federal historic tax credits and sometimes also with federal housing credits. Read More…

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