LIHTC Appraisal, LIHTC Appraisals, Market Studies
Created by the Federal Government in 1986, the Low-Income Housing Tax Credit (LIHTC) program gives investors a dollar-for-dollar reduction in their federal tax liability in exchange for providing financing to develop affordable rental housing. Since 1994, Walter Duke + Partners has completed over 2,000 rock-solid LIHTC appraisals that are able to withstand regulatory scrutiny. Our forward-thinking expertise extends to public housing, Hope VI, HUD Section 8 Rent Comparability Studies, and Cost Segregation.
Florida LIHTC Program or Low-Income Housing Tax Credit Program
The LIHTC program works through a subsidy mechanism. The Internal Revenue Service allocates funds on a per capita basis ($2.00) to each state. In Florida, the Florida Housing Finance Corporation oversees Section 42 housing.
While the LIHTC program can offer investors and developers great opportunities, due to its complexity, partnering with experts in this area is crucial. With decades of experience and a major provider of multi-family affordable housing market study products, Walter Duke + Partners provides our clients with key underwriting assistance and critical research, which helps ensure the right properties are brought to market.
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Low Income Housing Tax Credit / Affordable Housing Tax Credit
LIHTC properties have an average vacancy rate of 4.2 percent, compared to 10.6 percent in the overall rental market. Foreclosures have occurred in less than 1 percent of all LIHTC properties since 1986, better than all other classes of real estate.
Collaborative, Yet Independent, Tax Credit Housing Appraisals
Walter Duke + Partners understand our important role in the risk assessment and underwriting process, so you can expect timely communications from our team. As always, our goal is to deliver an exceptional client experience.
What questions are answered in your LIHTC appraisals and market studies?
While each engagement is unique, here’s a sampling of what’s normally included in a Walter Duke + Partners LIHTC market study:
- Does the project meet local housing needs?
- How will the project fare against the QAP evaluation criteria?
- Is the project financially feasible?
- Does the project meet the project lender’s underwriting criteria?
- Does the project have the support of the community?
- How hard will it be to secure local approvals?
- Who will be served, and at what AMI levels?