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Vermont Bill Would Create Property Transfer Surcharge to Boost LIHTC Funding for Manufactured Homes

Monday, March 29, 2021 - 9:00AM

Legislation introduced in the Vermont House of Representatives would create a surcharge on property transfers of more than $1 million, with a portion of the funding going for purchasing and restoring manufactured homes through the state low-income housing tax credit (LIHTC). H. 437 would institute a tax of 1.25% of the value of property transferred in excess of $1 million, with the state LIHTC allocating agency using some of the funds to make an additional $2.5 million in annual allocations for manufactured home purchase and replacement.

Strategies and trends in financing affordable housing will be discussed at the Novogradac 2021 Affordable Housing Virtual Conference, April 29-30.

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