Know the difference CLT is not HLB

It's crucial to understand that the Community Land Trust (CLT) and the Houston LandBank (HLB) are distinct programs, despite their occasional conflation. While both aim to facilitate homeownership for Low to Moderate Income (LMI) buyers, they operate in slightly different ways.

With CLT, buyers do not own the land on which their home sits. Instead, the land is owned by the trust, resulting in a significant reduction in property taxes for homeowners. Essentially, you're only taxed on the improvements (i.e., the home) rather than both the land and improvements.

On the other hand, HLB operates more traditionally, where buyers acquire both the land and the improvements and are taxed accordingly. This route is akin to a standard home purchase.

Deciding between CLT and HLB depends on your individual circumstances. Consulting with a Texas Affordable Housing Specialist (TAHS) can help you weigh the options and determine the best path forward for your homeownership journey. Don't hesitate to reach out to your favorite TAHS for personalized guidance and a comparison of the two programs.

Your Texas Affordable Housing Specialist