Affordable Housing, Community Development, Homelessness, Reports and Publications, Supportive Housing

New LIHTC Fact Sheets show Progress, But More Action Necessary

ACTION Campaign
 

The A Call to Invest in Our Neighbors (ACTION) Campaign recently released fact sheets illustrating that the Low-Income Housing Tax Credit (LIHTC) has led to the development and preservation of over 20,000 homes in Connecticut between 1986 and 2014. It has also generated over $200 billion in income and $900 million in tax revenue. However, almost 130,000 Connecticut households still pay more than half of their income on rent.

The 1st Congressional District, which includes Harford, has benefited the most from LIHTC. LIHTC has developed or preserved over 6,000 homes in the District. Additionally, it has generated almost $650 million in income and over $250 million in tax revenue.

Other Connecticut congressional districts have also benefitted significantly, ranging from about 2,500 homes in the 2nd Congressional District (New London) to about 4,300 in the 3rd Congressional district (New Haven). Gains in income and tax revenue resulting from LIHTC ranged from $269 to $473 million and $106 to $186 million, respectively.

Similar facts sheets are available for every congressional district, in every state. The congressional data is limited to data between 1986 and 2013, while the state level data reflects 1986 to 2014 numbers.

Click here to read more. 

 
 

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