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Tax credit property

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Prospect Heights, Brooklyn, New York, USA, August 2006 Rudi Von Briel/Photolibrary/Getty Images
Definition: A tax credit property is an apartment complex owned by a landlord who participates in the federal low-income housing tax credit program. These landlords get to claim tax credits for eligible buildings in return for renting some or all of the apartments to low-income tenants at a restricted rent.
Also Known As: Tax credit site, tax credit building

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