Low Income Housing Tax Credits are a primary tool for developers to create 'affordable' housing.
Affordable may be in the eye of the beholder
Here's the way they are figured WASHINGTON, D.C. - March 26, 2012 - The Internal Revenue Service (IRS) today released its 2012 Calendar Year Resident Population Estimates.
These figures are used to determine states' 2012 low-income housing
tax credit (LIHTC) ceilings and tax-exempt private activity bond caps.
Each state's LIHTC ceiling in 2012 is equal to the greater of $2.20
multiplied by the state population or $2,525,000; a state's tax-exempt
bond volume cap will be the greater of $95 multiplied by the state
population or $284,560,000. Notice 2012-22 includes the population estimates for each state, territory and insular area.