The Indiana state government recently passed the Attainable Homeownership Tax Credit, a $4 million program designed to incentivize individuals and businesses to contribute to Habitat affiliates. This program is a significant recognition of the growing need for more affordable homeownership options in our community.
How does it work?
Tax credits may be used to offset individual state income taxes or business taxes in the tax year the donation is made beginning in 2024. When you donate to Habitat, you can receive a tax credit worth 50% of your donation, up to $10,000 in tax credits. This means that a donation of $2,000 could result in a $1,000 tax credit for you or your small business.
The increased funds from this initiative will enable us to:
Build more homes
More funding allows us to increase production which means more families in our community can achieve their dream of homeownership.
Partner with more families
Your support helps us extend our reach and support more first-time homeowners. We can walk alongside more families equipping them with the tools and education to prepare for homeownership.
Create better outcomes
Research shows that a safe and stable home improves the health, education, and overall well-being of children.
There are specific steps you need to take to claim the tax credits. Contact Maureen Parsons at mparsons@indyhabitat.org or 317.777.6140 for more information.
Frequently Asked Questions
Who qualifies for the tax credit?
Who qualifies for a tax credit?
Tax credits are available for any qualified individual taxpayer, small business, or corporation in Indiana that donates to Habitat for Humanity of Indiana.
What types of donations are accepted?
What types of donations are accepted?
Cash, checks, credit cards, stocks, and bonds are eligible for the program. Contributions from donor-advised funds/trusts (DAFs) and qualified charitable distributions (QCDs) may be eligible. Please consult your tax advisor for specific guidance on tax credit giving.
Is there a maximum donation or tax credit amount for this program?
Is there a maximum donation or tax credit amount for this program?
A donor can make any size donation but may only claim a maximum of $10,000 in tax credits in a given tax year through the Attainable Homeownership Tax Credit.
Why am I making the donation to Habitat for Humanity of Indiana (HFHIN) instead of my local affiliate?
Why am I making the donation to Habitat for Humanity of Indiana (HFHIN) instead of my local affiliate?
HFHIN is processing all the tax credits at the request of the State of Indiana so there is only one point of contact to process tax credits and ensure privacy, proper accounting, and accurate interface with the Department of Revenue. Your donation will still support Greater Indy Habitat.
