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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Aimed at middle- to low-income households (annual income less than 30,000 to 70,000 RMB according to the size of the household and the specific area), this public housing program provides housing (usually 60–110 square meters) at affordable price (usually 50–70% market price). [24]
Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property.
The highest incomes to be considered middle class are in Hawaii, at $82,630, and then New York and Washington, D.C., where the minimum middle class annual income is $81,396.
Houses, apartments or other residential units are usually subsidized on a rent-geared-to-income (RGI) basis. Some communities have now embraced a mixed income, with both assisted and market rents, when allocating homes as they become available. A significant change in the program took place in 1969, with the passage of the Brooke Amendment.
Georgia is the thirty-third-richest (33rd) state in the United States of America, with a median household income of US$46,007 (2011). [ 1 ] Georgia counties ranked by per capita income