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Rent and Income Limit Calculator Demo
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Rent & Income Limit Calculator
The Rent & Income Limit Calculator© is available with the compliments of Novogradac & Company LLP. Rent and income limit data now includes 2010 limits.
The Rent & Income Limit Calculator© is meant for the use of tax credit housing professionals only. It does not have the capability to determine eligibility for those seeking to qualify and occupy low-income housing.
New Resources for 2010:
2009 - 2010 Income Limits Comparison and Maps
Recording of the Income Limits and Your Project Webinar
"Understanding the 2010 Income Limits"
By Jim Kroger, CPA, Thomas Stagg, CPA, and Stacey Lewis, CPA, Novogradac & Company LLP
June 2010 Novogradac Journal of Tax Credits
"Project-Based v. County-Based Approach for Determining Income Limits"
By James R. Kroger, CPA, Novogradac & Company LLP
July 2010 Novogradac Journal of Tax Credits
Related Resources:
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| Low-Income Housing Tax Credit Handbook 2010 Edition |
About the Rent & Income Limit Calculator©:
- • This program will calculate IRS Section 42(i)(3)(A) low-income housing tax credit (LIHTC) rent and income limits for every county and for every Metropolitan Statistical Area (MSA) in the United States.
- • It provides the HUD sourced 30%, Very Low (50%), and Low (80%) income limits for the selected county.
- • It automatically calculates the LIHTC Rent and Income Limits for any selected percentage of the Area Median Income (AMGI) for the selected county.
- • Users can choose which bedroom sizes are displayed (the default setting displays results for all bedroom sizes).
- • Users can choose which income or rent levels are displayed on the 12 year historical charts.
Other Features Include:
- • The ability to display the Fair Market Rent (FMRs), as determined by HUD. FMRs are used to determine the eligibility of rental housing units for the Section 8 Housing Assistance Payments program. Section 8 Rental Certificate program participants cannot rent units whose rents exceed the FMRs.
- • A section for user to input allowances by bedroom type, so that LIHTC rents are shown before and after deduction of utility allowance;
- • The ability to see average percentage income and rent increase over last 12 years; and
- • The ability to display 140% income limits for purposes of the next available unit rule based on the 50% or 60% HUD income limits depending on minimum set aside chosen.
After reviewing the calculator, please type your comments in the field below. |