Q & A | Where Can I Find LIHTC Rural Limits?Apr 20, 2022
Question from a Blog Reader
"Using the flow chart in your blog post announcing the income limits this year, I determined that I have rural tax credit properties that should use the national non-metro limits. I was surprised to find that the income limit tables do not include the rural limits. Where can I find them?"
Annual Feature! Every year when new income limits have been released we get this question. Yesterday's 2022 announcement was no exception. The regular MTSP income limit tables have the standard MTSP and HERA Special limits, but they do not include the rural option available to some LIHTC properties. The rural limits are listed as part of HUD's documentation. An easy place to find the rural limits is part of an FAQ published by HUD HERE, as the answer to question 15. Note, HUD only publishes the 50% limits in the FAQ. The 60% limits for 40-60 minimum set-aside properties need to be calculated from the 50% limits. One way to do this is by multiplying the supplied limits by 1.2. Question 17 of the HUD FAQ provides an alternate option.
There is a very good chance that the topic of this post is covered in an online on-demand course at Costello University.
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