Single Family Tax Credit Program

  • Single-Family Tax Credit Program

Jump to Content:     Rules for Comment 9/27/23 Public Forum


The application period for the Single Family Tax Credit Fiscal Year 2024 Tax Credit Reservations is CLOSED.


The resources below are designed to assist you with your Single Family Tax Credit application.

If you are unsure which pool your site is eligible for (Central City, Metro/Suburban, Rural), use the OHFA Property Locator Search Tool to look up details including census tract, geographic pool, opportunity index category, and opportunity index score.

Once you know the pool in which your site is located, use the relevant interactive map below to see how your site scores. Please note that the maps include only geographic scoring categories. The interactive map instructions provide a step-by-step guide designed to walk you through the process of using the maps for your application and include a Frequently Asked Questions section as well as a section on Data and Methodology. If you have questions regarding the maps after reading through these materials, please contact the Office of Research and Analytics.


How It Works

The Single Family Tax Credit program leverages public-private partnerships to increase the inventory of affordable, single-family housing for Ohio's growing workforce. The program provides $50 million a year for four years to fill the financing gap to develop or substantially rehabilitate housing in Ohio.

Project applications must include a minimum of five, single-family dwellings to be constructed or blighted structures to be made habitable. The dwelling sites may be contiguous or "scattered" site. Each dwelling must include a minimum of two bedrooms and one and one-half baths.

Each dwelling must be sold to a qualified buyer, as defined by the program, who will use it as their primary residence. The sale price of the house must be affordable (i.e., no more than 30% of the qualified buyer's monthly income) and remain affordable for 10 years after the initial sale.

The tax credit is calculated as the difference between the total development cost of the project and the aggregate appraised market value of all dwellings in the project. Proposed projects may receive up to a maximum of $50,000 in tax credits per dwelling, which are issued at the completion of the project. The tax credit can be claimed annually over a 10-year period with the annual amount equaling one-tenth of the total issued tax credit.


Single Family Tax Credit Program Administrative Rules Hearing

Notice is hereby given that the Executive Director and Members of the Ohio Housing Finance Agency Board, acting pursuant to Sections 119.03, 175.05 and 175.17 of the Ohio Revised Code, conducted a public hearing regarding adopting new Ohio Administrative Code Rules:

175-12-01: Definitions
175-12-02: Application schedule and procedures
175-12-03: Single family tax credit eligibility
175-12-04: Selection of approved applications
175-12-05: Credit certificate and market appraisal
175-12-06: Monitoring, reporting, and recapture

The proposed new rules are for the implementation of the Single Family Tax Credit Program created in R.C. 175.17. The public hearing took place on February 26, 2024 at 10:30 a.m.


Single Family Administrative Rules for Comment

On December 20, 2023, The OHFA Board approved the submittal of the draft rules to the Joint Committee on Agency Rule Review (JCARR). OHFA will now work with Ohio's Common Sense Initiative and JCARR to present, finalize, and receive approval for the program rules.


Documents for the September 27, 2023 Public Forum


Questions?

For more information, contact:
Single Family Tax Credit Program
singlefamilytaxcredit@ohiohome.org


Equal Housing OpportunityThe 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.