IRS Releases Ruling That State, Local Impact Fees Can Be Included in LIHTC Eligible Basis

Friday, February 15, 2002 - 8:00AM

The IRS has released Revenue Ruling 2002-9 which says that state and local impact fees can be included in eligible basis for low-income housing tax credit projects. The ruling concludes that impact fees are indirect costs that should be capitalized and included in the basis of the building(s). Click here for the ruling. For the IRS' announcement on its guidance to including impact fees in basis of building, click here.

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