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Virginia Rent Reduction Tax Credit

Virginia Rent Reduction program

Owners of rental property who provide a rent reduction to low income tenants can claim this credit. Total credits approved in a fiscal year cannot exceed $50,000.

Eligibility

Owners of rental property who provide a rent reduction to low income tenants who are over age 62, have a mental disability, have been homeless (those in domestic violence and homeless shelters) at any time within the previous 12 months preceding the lease term are eligible to apply for a state income tax credit.

(Non)Refundable

Non Refundable

How To Claim

Complete Schedule CR, Part VII to claim this credit.

Rent Reduction program
Last Updated ( Monday, 18 January 2010 01:27 )