The Oregon Affordable Housing Tax Credit (OAHTC) is a state income tax credit that produces lower rents for low income renters in affordable housing projects. The OAHTC allows banks to reduce interest rates on loans for affordable housing by 4% and claim a state income tax credit equal to the lost interest income caused by the lower rate. Property owners must agree to pass 100% of interest savings to low income tenants in the form of permanent rent reductions.
Nearly all households that benefit from this program earn less than 50% of Area Median Income (AMI), and in many cases, below 30% AMI.
The OAHTC rent savings allow households to be financially stable and not be forced to choose between housing and food, medicine or heat.
Without the program, many projects could not be built. Especially in rural communities where incomes are low, decent housing is unaffordable without this program. The local value from the economic development aspect of affordable housing development must be emphasized, especially with Oregon’s struggling economy.
Oregon Affordable Housing Tax Credits (OAHTC)
Resource Pool 2021
OAHTC Application #2021-7 is now closed
Opening Date: March 29, 2021
Applications will be Reviewed on a First-Come First-Reviewed Basis and accepted until the Final Application Due Date so long as funds are available.
Final Application Due Date: December 15, 2021
Final Application Due Time: 4:00 PM PST