Asset Management Updates

07.17.08 | NH Tax Assessment Bill Signed

HB 1442 provides owners of LIHTC properties the option to elect to be assessed under a statutory income approach.   Contact us if you would like assistance understanding your election under this new law.

KEY DATE:

Taxpayers must analyze whether the bill will help them and then they must elect to be so assessed by October 1, 2008 for tax year 2009.  With restrictions on rents but no restrictions on expenses, it is essential to look at all operating expenses.  

IMPORTANT NOTE:

Taxpayer Election: The formula in the bill only applies if the taxpayer timely elects to be assessed under the bill by notifying the municipality by October 1, 2008 (for tax year 2009) or by October 1, 2009 (for tax year 2010). If a taxpayer does not so elect, the municipality will assess the property consistent with general New Hampshire assessment law. Read more:

HB 1442 New Law Assessment Method and Important Dates!

HB 1442 Housing Assessment Sections Only

Governor Lynch Signs Three Housing Bills

Housing Bills Press Coverage

02.15.08 | FY 2008 Income Limits and Maximum Tax Credit Rents Released
The Income Limits and Maximum Tax Credit Rents have been updated, in effect as of February 14, 2008: Maine | New Hampshire Note: Tax Credit and HOME rent limits are not affected by the FMR.

01.01.08 | Revised Utility Allowances
Maine | New Hampshire

05.24.07 | NAHB Study Looks at 2007 Income Limits
Income limits and maximum rent limits did not change for most areas in Maine and New Hampshire this year. This appears to be a growing trend throughout the country. The National Association of Home Builders recently issued a study regarding income limits in Tax Credit Properties. A summary of the findings: Income Restrictions Among Problems for LIHTC Properties, NAHB Study Finds | The study by Paul Emrath of the NAHB Housing Policy Department: HUD’s New Income Estimates Endanger Viability of Affordable Rents

10.12.05 | Fair Market Rent Analysis 2004-2006
Analysis

06.01.05 | Disposal of Consumer Report Information
Alert

Ongoing | Asset Calculation Grid
A helpful tool to determine how to value assets in calculating income.

Ongoing | Fair Housing Alert
Alert