Quick Tips | MTSP Income LimitsMay 17, 2023
Facts | Starting with the Housing and Economic Recovery Act of 2008 (HERA), income limits for the LIHTC and tax-exempt bond programs are project-specific, based on the date a project is placed in service. Holding harmless to past higher income limits and HERA Special options also create unique income limits that can apply to one project but on the project next door. Finally, rural national nonmetropolitan income limits apply to some properties.
Implications | We cannot just go to the current HUD area median income limits and use them. HUD publishes Multifamily Tax Subsidy Program (MTSP) limits to reflect these factors. Also provided are tools to help select the correct limits.
Resources | The HUD MTSP income limit website is HERE.
Bonus: make sure to check the FAQ for the HUD program area median income limits HERE (not the MTSP limits) for the national nonmetropolitan income limit applicable to some rural LIHTC properties.
Another bonus: Check out the MTSP income limit selection tool by clicking on the picture below.
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