Attention rental property owners: 4(d) Affordable Housing Incentive Program application deadline is January 31, 2025

The Rochester-Olmsted County 4(d) Affordable Housing Incentive Program is currently accepting applications until Friday, January 31, 2025. This voluntary program helps rental property owners obtain property tax reductions while preserving affordable housing for income-qualified renters in our community. 

Properties classified as 4(d) are taxed at a reduced rate of 0.25%, about 80% lower than the usual 1.25% rate for multifamily housing. In exchange, the property owner agrees to keep the property affordable for renters who meet income requirements for 10 years.

Eligible properties must be multi-family buildings with four or more units, have a valid City of Rochester housing registration, and at least 20% of the units must meet rent and income limits.

More information and how to apply

Visit Olmsted County’s website to learn more about program benefits, eligibility, and for application materials. For questions regarding the 4(d) Affordable Housing Incentive Program, please contact Olmsted County Housing Program Manager Mark Engel at mark.engel@olmstedcounty.gov or 507-328-7127.