Costello's blog dedicated to sharing knowledge that supports the housing industry's vital mission.

Quick Tips | MTSP Income Limits

income limits lihtc quick tips tax-exempt bonds May 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.

Are you looking for great online on-demand affordable housing training, with Fair Housing, for yourself or your staff? Look no further! Check out our Jump Start training program HERE or click on the below picture.  

There is a very good chance that the topic of this post is covered in an online on-demand course at Costello University.


Stay connected with news and updates!

Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.

We hate SPAM. We will never sell your information, for any reason.