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Tax Credit and HERA Income Limits

Low Income Housing Tax Credit and Tax Exempt Bond properties must use the Multifamily Tax Subsidy Project (MTSP) income limits. Tax Credit and Tax Exempt Bond properties are held harmless from income limit and/or rent reductions. These communities may use the highest income limits used for applicant/resident qualification and/or rent calculation purposes since the property has been in service.

Example: The 50% income limit for a one person household in Accomack County in 2010 was $18,700. Because the income limits published for each year for Accomack County were less than the 2010 limit, this LIHTC or Section 142 Tax Exempt Bond Funded property that placed in service in Accomack County on or after 01/01/2009 but prior to 5/14/2010 continued to use the 2010 income limits and rents, because limits published until 2017 were all less than the 2010 limit. As of 4-14-17 the published limit is again $18,700 equal to the highest limit since the property placed in service. The 2017 limit $18,700 is the appropriate limit to now use. 

Owners are encouraged to carefully review income limits published annually since placing in service to ensure the appropriate income limits and rents are being utilized to benefit the property. VHDA is providing the link below to assist owners in the determining the appropriate limits to use. 

https://www.huduser.gov/portal/datasets/mtsp.html#2017_query

 

Once you click on the link above, click on the button that says “Click Here for FY 2017 MTSP Documentation”. You should select the state of Virginia and a list of VA counties appears. Select the county where your property is located and then click on the “next screen” button. You will then see the current income limits and a table informing you of the limits you should be using based on when your property placed in service.

NOTE: VHDA will continue to make the income limits and rents for previous years available on our website to assist you.

For 2017 the following localities were identified as HERA areas of the state:

  • Blacksburg-Christiansburg-Radford, VA HMFA
  • Harrisonburg, VA MSA
  • Augusta County, Staunton City, Waynesboro City (Staunton, Waynesboro MSA)
  • Roanoke, VA HMFA
  • Winchester, VA MSA
  • Kingsport-Bristol-Bristol, TN - VA MSA

Please Note: Only LIHTC or Section 142 Tax Exempt Bond Funded properties in the identified HERA localities that placed in service prior to January 1, 2009 can use the HERA limits. All other LIHTC or Section 142 Tax Exempt Bond funded properties in these localities that placed in service after that date must use the regular income limits and/or rents based on placed in service date.

Tax Credit & HERA Income Limits Documents

PDF Icon 2017

PDF Icon 2016

PDF Icon 2015

PDF Icon 2014 

PDF Icon 2013 

PDF Icon 2012 

PDF Icon 2011

PDF Icon 2010

 

Tax Credit Program Rent Limits

2017

Page Icon Maximum LIHTC Gross Rents
NOTE: These limits apply to all Tax Credit properties, including properties in any HERA areas that placed in service AFTER December 31, 2008.


PDF Icon HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro, Winchester and Kingsport-Bristol VA areas that were placed in service BEFORE January 1, 2009.

Rent Limits Archive


PDF Icon 2016 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service BEFORE January 1, 2009.


PDF Icon 2015 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service BEFORE January 1, 2009.

 

PDF Icon 2014 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service before January 1, 2009.
 

PDF Icon 2013 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Kingsport-Bristol-Bristol, TN-VA and Winchester areas that were placed in service before January 1, 2009. 

 

PDF Icon 2012 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Augusta-Waynesboro and Winchester areas that were placed in service before January 1, 2009.
 

PDF Icon 2011 HERA Maximum Gross Rents
NOTE: These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg, Roanoke, Augusta-Waynesboro and Winchester areas that were placed in service before January 1, 2009.
 

PDF Icon 2010 HERA Maximum Gross Rents
NOTE:These rents are applicable to properties located in the Blacksburg-Christiansburg-Radford, Harrisonburg and Winchester areas that were placed in service before January 1, 2009.

 

 

NOTE: You will need Adobe’s Acrobat Reader (.pdf), Microsoft Word Viewer (.doc), Microsoft Power Point Viewer (.ppt), or Microsoft Excel Viewer (.xls) in order to view some of the documents on this page.

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