Tax Credit Communities
We are really looking forward to welcoming you as one of our newest neighbors at The Oaks and you probably have a question or two about tax credit properties and the application process.
We’ve 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.
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 paystubs
- Monthly fixed income (must be within 30-day of application date)
- Six checking statements
- One savings account statement
- Proof of any or all retirement accounts
- $50 non-refundable processing fee
Click Here for more information about other WC Smith Affordable Housing options.Before the application fee is accepted, the applicant is hereby advised that the eligibility criteria used in deciding whether to rent to the applicant are based on a review of the application, applicant's credit history, pending criminal accusation or criminal conviction history (as permitted by law), rental history and verification of employment. The applicant may provide evidence demonstrating inaccuracies within the applicant's criminal record or evidence of rehabilitation or other mitigating factors