What Is a Tax Credit Property?

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