Report Finds LIHTC’s Dramatic Effect on Rural Communities
Washington, D.C./PRWeb Press Release
August 15, 2013
A new report, “The Low-Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America,” was released by Rapoza Associates. The study focused on 37 of the nation’s rural communities fraught with poverty and a lack of affordable housing and reported on the effectiveness the Low-Income Housing Tax Credit (LIHTC) had on the communities when they utilized LIHTC as their primary source of funding for housing and community improvement. The study found that the program was massively successful, providing 270,000 rentals, 1.15 million jobs, boosted the local income by $86.9 billion and generated $67.8 billion in state and local tax revenue since its inception in 1986. More...