We are excited to make you aware of an income tax credit available to you. The Communities of Opportunity Program (COP) is a Virginia income tax credit program that benefits landlords with properties in high opportunity areas in the Richmond MSA region who rent to persons with a Housing Choice Voucher.
The COP income tax credit program is offered through the Virginia Department of Housing and Community Development (DHCD). HOME partners with DHCD through our Move to Opportunity Program, a service that assist persons with a Housing Choice Vouchers Holders with housing search assistance and landlord recruitment in areas of low poverty and high opportunity, along with promoting the use of the COP tax credit.
You can learn more by attending our free Move to Opportunity Landlord event in June. Details to come!
COP Tax Credit Benefits
- Amount of tax credit is 10% of the annual fair market rent for one or more units rented to a tenant with a housing choice voucher in the same tax year
- Credits not taken in the year allocated may be carried forward for five years as funds are available.
COP Guidelines COP Application
Use the links above to download the Communities of Opportunity Tax Credit Program guidelines and application. For further details of the COP tax credit program and how it can benefit you please contact either Dawn Scott, Housing Program Administrator at DHCD (804)371-7142 or Brenda Hicks, Director of Housing Counseling and Education at HOME (804)354-0641.
Find out how you can partner with HOME