What is a Tax Credit Community
We are really looking forward to welcoming you as one of our newest neighbors at Petworth Station and you probably have some questions about tax credit properties and the application process.
Weve got you covered!
What is a Tax Credit Community?
Tax credit communities provide "workforce housing", which simply means housing for residents whose income is within certain percentage of the area median income. If your income falls between the minimum and maximum income restrictions, you may qualify for an apartment at a tax credit community. What are the income restrictions? The income restrictions are based on the number of people in the household and the size of the apartment home.
What are the income restrictions?
The income restrictions are based on the number of people in the household and the size of the apartment home.
My income falls between the minimum and maximum range. What do I need to bring with me to apply?
- Government issued ID, SS card, or valid DHS authorization ID. For children: Birth certificate and SS card
- Six consecutive months of paystubs
- Monthly fixed income (must be within 30-day of application date)
- Six consecutive months of checking statements
- One savings account statement
- Proof of any / all funds held in financial apps (e.g. Venmo, PayPal, and Cash App)
- Proof of any / all retirement accounts
- Proof of any whole life insurance policies
- $50 non-refundable processing fee
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