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The Columbus City Council on Monday agreed to vastly expand tax breaks for affordable housing in the city, such as the Topiary Park Crossing apartment complex Downtown.
As of fiscal year 2013, Illinois has ended its property tax circuit breaker program and has instead relied upon the Homestead exemption for property tax relief. [6] Maine: Both homeowners and renters can qualify for the program here, which is based on yearly income as well as the percentage of income tax paid and certain residency requirements ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Under this example, a renter with annual income of $30,000 paying rent of $800 a month would receive an income-tax refund or rebate for the year of $740 (($800 x 0.15 x 12) - $700).
The City of Columbus has designated the Short North, along with portions of Italian and Victorian Villages as a "market ready" Community Reinvestment Area, with available 15-year, 100 percent tax abatements if projects include 10 percent affordable housing, with options to buy out of the requirement.
Head to your local tax office website and search for terms like “property tax relief,” “homestead exemption,” or “property tax exemptions.” Check instructions and requirements.
Columbus Mayor J. Andrew Ginther's proposed budget anticipates 29% surge in property tax revenues from reappraisals.
The Short North is a neighborhood in Columbus, Ohio centered on the main strip of High Street immediately north of downtown and extending until just south of the Ohio State University campus area. It is an easy walk from the convention center or Nationwide Arena district to the north. The Short North is often crowded on weekends, particularly ...
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