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Gov. Mike DeWine announced more than $67 million in tax credits to rehab historic buildings across the state.
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.
In order to claim this credit the tax filer must be a resident for the full year. The maximum credit is $1,000 and for filers who make less than $25,000 per year the property tax must be over 3% of their yearly income. For tax filers who make between $25,000 and $40,000 the property tax must be over 4% of their yearly income.
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).
Location of Lake County in Ohio. This is a list of the National Register of Historic Places listings in Lake County, Ohio. This is intended to be a complete list of the properties and districts on the National Register of Historic Places in Lake County, Ohio, United States. The locations of National Register properties and districts for which ...
Heath's Central Park development is among 15 projects, including five in central Ohio, that will get state tax credits, Gov. Mike DeWine said Monday.
Laurel Homes Historic District is a registered historic district in Cincinnati, Ohio, listed in the National Register of Historic Places on May 19, 1987. It contained 29 contributing buildings. All but three of the historic low-income public housing projects was razed between 2000–02 to make way for new condominiums.
Few people are aware that real estate in Mentor is worth several times as much as in Painesville. The demand, by prominent Cleveland people, for residence property along the C. P. & E. railway is what has put prices up on Mentor real estate, and now $1,000 an acre is considered cheap in many instances.