Ohio Homeownership Tax Credit Includes $50 Million Annual Cap; Blog Post Provides Details

Friday, July 7, 2023 - 9:15AM

A new homeownership tax credit included in budget legislation signed this week in Ohio will provide up to $50 million in tax credits annually. Gov. Mike DeWine signed H.B. 33, which included both the homeownership credit and created a low-income housing tax credit (LIHTC) for Ohio. The homeownership credit, which covers the gap between the development costs and the state’s estimate of the value of the finished home, shares some similarities to the proposed Neighborhood Homes Tax Credit (NHTC). A News from Novogradac blog post provides what’s known about the homeownership tax credit and addresses unanswered questions.

State and federal housing incentives will be a topic at the Novogradac 2023 Housing Tax Credit and Bonds Conference, Sept. 28-29 in New Orleans.

Learn more about Novogradac's expertise and many services