Facts & Figures

NH&RA is your one-stop shop for critical affordable housing facts & figures.

Applicable Federal Rates (AFRs)

IRS LogoEach month, the IRS provides various prescribed rates for federal income tax purposes. These rates, known as Applicable Federal Rates, or AFRs, are regularly published as Revenue Rulings.

Low-Income Housing Tax Credit Rates

The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates – one for 70% present value credit (PVC) and one for the 30% present value credit. The maximum 70% rate is available for low-income new construction and substantial rehabilitation expenditures that aren’t federally subsidized (e.g.; funded with tax-exempt bond proceeds or with below market federal loans). The maximum 30% rate applies to acquisition expenditures and to federally subsidized low-income new construction or substantial rehabilitation expenditures for low-income buildings.

Qualified Allocation Plans

Qualified Allocation Plans, or QAPs, detail the selection criteria and application requirements for housing tax credits and tax-exempt bonds. They typically lists all deadlines, application fees, restrictions, standards, and requirements. Housing Finance Agencies routinely draft new QAPs and hold a public forums to solicit comments about the proposed plan before adopting a final version.