Novogradac Forms Working Group to Assess 2023 LIHTC Income and Rent Limits
Novogradac has convened a working group to examine the effects of a surprise announcement by the U.S. Census Bureau of a year 2020 data collection issue. In July, the U.S. Census Bureau announced that it will not publish 1-year American Community Survey (ACS) data for 2020. The 2020 ACS data, if available, would have been used to calculate 2023 median incomes, which in turn would have been used to determine 2023 income and rent limits for low-income housing tax credit (LIHTC) and tax-exempt bond- (TEB-) financed residential rental properties.
The Novogradac working group is analyzing the effects of this surprise announcement on LIHTC- and TEB-financed properties. For more information about joining the working group, contact Thomas Stagg.
Stay tuned for more news as our analysis unfolds and subscribe to the Tax Credit Tuesday podcast to be notified as soon as an upcoming episode on this topic is posted.