Created in the FY 2024-2025 State Budget bill, the new Single-Family Housing Tax Credit program provides $50 million a year in ten-year tax credits, for four years, to incentivize the construction of new single-family homes for Ohio's growing workforce.
How It Works
Established as a public-private partnership, the Single-Family Housing Tax Credit will bring together local government entities with a project development team (homebuilders, investors, and realtors) to identify the location and scope of construction of single-family homes in a community.
The local government entity and the development team submit an application for tax credits to help finance the construction of the houses. Applications will be scored based on the criteria outlined in the Allocation Plan and tax credits will be competitively awarded. The tax credits may then be claimed over a ten-year period. The homes will be sold to qualified Ohio homebuyers at the construction cost.
- Single-Family Housing Tax Credit Program Sheet (770 KB Adobe PDF File)
Single-Family Administrative Rules for Comment
The Single-Family Housing Tax Credit Program rules are available for public comment. OHFA is proposing six new administrative rules in Chapter 175-12 pursuant to R.C. 119.03. OHFA will be holding a public hearing at 1:00 p.m. Eastern Time on Thursday, November 2, 2023. Written comments will be accepted by email to SingleFamilyTaxCredit@ohiohome.org through 5:00 p.m. Eastern Time on Thursday, November 2, 2023. Please indicate in the email subject line if your comments apply to the allocation plan, the rules, or both.
- Single-Family Housing Tax Credit Rules (196 KB Adobe PDF File) New
- Single-Family Housing Tax Credit Business Impact Analysis (317 KB Adobe PDF File) New
First Draft Single-Family Allocation Plan
The Single-Family Allocation Plan is available for public comment. OHFA will hold a Public Hearing to receive verbal comments for the allocation plan on Wednesday, October 25, 2023 at 1:00 p.m. Written comments regarding the Single-Family Allocation Plan may be emailed to SingleFamilyTaxCredit@ohiohome.org, and must be submitted by Thursday, October 26th at 5:00 p.m. Please indicate in the email subject line if your comments apply to the allocation plan, the rules, or both.
- Single-Family Allocation Plan – First Draft (445 KB Adobe PDF File) New
Eligible Entities
Local government entity (county, township, municipal corporations, or regional planning commissions, community improvement corporations, economic development corporations, county land reutilization corporations or port authorities) along with a development team may submit an application.
Documents for the September 27, 2023 Public Forum
- Single-Family Housing Tax Credit Program Draft Definitions (179 KB Adobe PDF File)
- Single-Family Housing Tax Credit Program Rule Issues (161 KB Adobe PDF File)
- Single-Family Housing Tax Credit Program Forum Presentation (242 KB Adobe PDF File)
- OHFA Property Locator Search Tool
Questions?
For more information, contact:
Single Family Tax Credit Program
singlefamilytaxcredit@ohiohome.org
The Ohio Housing Finance Agency is an Equal Opportunity Housing entity. Loans are available on a fair and equal basis regardless of race, color, religion, sex, familial status, national origin, military status, disability or ancestry.
