Valuation of Low Income Housing Tax Credit (LIHTC) properties for property taxation is a complex issue due to unusual rules and restrictions imposed upon such properties by federal and state regulations. Accounting for such restrictions presents special difficulties because of the limited number of these properties, the potential value of the related tax credits, and the severity of the restrictions, including a lack of residual value, restricted rental rates, and a compliance period of more than 30 years. Both assessors and courts have struggled with a number of issues regarding how best to value LIHTC properties. As a result of conflicting state court decisions and often vague statutes, the valuation of LIHTC properties remains uncertain. Consequently, LIHTC property owners are faced with potentially significant and unpredictable economic costs. The concern is thus, that without consistent methodology for valuing LIHTC properties, owners will not have confidence in the financial viability of their properties and they will bare a greater risk of default.