The Virginia Livable Home Tax Credit (LHTC) program is designed to improve accessibility and universal visitability in Virginia’s residential units by providing state tax credits for the purchase of new units or the retrofitting of existing housing units. Tax Credits are available for up to $6,500 for the purchase/construction of a new accessible residence and up to 50 percent of the cost of retrofitting existing units, Not to exceed $6,500.
Any tax credit that exceeds the eligible individual’s or licensed contractor’s tax liability may be carried forward for up to seven years. If the total amount of tax credits issued under this program exceeds the $2 million allocation in a given fiscal year, DHCD will pro-rate the amount of credits among the eligible applicants.
