Managing for tax-credit compliance. (low-income housing tax credit): An article from: Journal of Property Management

This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on March 1, 1996. The length of the article is 2278 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The low-income housing tax-credit program has become the most common instrument for funding affordable multifamily apartments for moderate-income households since its introduction in 1986. Parties that want to take advantage of this tax credit should strictly follow the rules to avoid disqualification. They have to be aware of the requirements regarding project parameters, more specifically the minimum project set-asides, applicable fraction, initial compliance period and maximum allowable rent. They also have to understand how to qualify tenants. In particular, they have to comply with rules on income limits, income exclusions, assets, income verification and student households. Recertification of households is another task that should be performed according to the letter of the law. Establishing a relationship with the state compliance monitoring agency is a good measure to avoid non-compliance.

Citation Details
Title: Managing for tax-credit compliance. (low-income housing tax credit)
Author: Ruth L. Theobald
Publication:Journal of Property Management (Refereed)
Date: March 1, 1996
Publisher: Institute of Real Estate Management
Volume: v61 Issue: n2 Page: p30(5)

Distributed by Thomson Gale