Minnesota State Housing Tax Credit
An opportunity to benefit state taxpayers and new Beacon homes
2026 State Housing Tax Credit – Updated May 2026
In mid-February of 2026, taxpayers had the opportunity to submit an application to contribute to the 2026 Minnesota State Housing Tax Credit (SHTC) Contribution Fund and invest in Beacon affordable housing developments. The program was popular this year, with all $9.9M in available credits claimed within two hours of the program opening! Given this opportunity, Minnesotans showed up for Beacon’s supportive housing resulting in $1.48 million dedicated to Beacon developments in 2026. The SHTC is just one way that Minnesotans are making affordable and supportive housing stronger.
2026 investments included:
$1,281,864 for Gladstone Crossing in Maplewood
$75,000 for Kimball Court in St. Paul
$125,000 for The NorthView in Minneapolis
This year’s priority designation was Gladstone Crossing in Maplewood,Minnesota. Once complete, Gladstone Crossing will provide about 40 high-quality, professionally managed apartment homes focused on creating a supportive environment for young families, some of whom make less than $30,000 a year. Our partner in this project is Solid Ground, a nonprofit based in White Bear Lake that has been working with young families experiencing housing instability for decades. Their onsite staff will help residents improve their physical and mental health, employment opportunities, education, financial literacy, and parenting skills.
Funds designated to Beacon’s Gladstone Crossing will help fill remaining gaps in funding that will set the development up for long-term success. We anticipate beginning construction in 2026, and families will move into Gladstone Crossing in 2027.
More About the Minnesota State Housing Tax Credit
The Minnesota State Housing Tax Credit is an opportunity where you can invest $1,000, get $850 back, and deliver 1:6 leverage for affordable housing developments you care about.
Minnesota taxpayers (individuals and companies) can make a contribution of between $1,000 and $2,000,000 to the State Housing Tax Credit Program and receive 85% of that contribution returned to them as a tax credit on Minnesota income taxes. If you contribute more than you owe in 2026 state taxes, your credit can carry forward for up to ten years. This program will be repeated through the calendar year 2028. We recommend that you consult with a professional financial advisor before making your contribution.
How is this different from my charitable contribution to Beacon?
Beacon still needs your charitable contribution! A charitable contribution is a gift that sustains our 501(c)(3) organization day-to-day and year-to-year. Your tax credit contribution should not take the place of your regular donation to Beacon. Annual gifts sustain the organization and our ability to put public resources to work in our communities. Your tax credit contribution is returned to you at $.85 on the dollar. Please consider using the tax credit return in whole or in part as a donation to Beacon.
If you are interested in news about Beacon’s annual priority designation for contributions , please sign up here. to receive updates from Beacon directly to your inbox. Additional questions can be directed to Heidi Goldman-Gray, Vice President of Advancement & Communications at hgoldman-gray@beaconinterfaith.org or 651-377-8182. We encourage you to contact your tax advisor or financial professional to best understand implications of this program for your individual situation.