The amount used to determine the low-income housing tax credit ceiling will increase to $3 multiplied by the state population in 2025, announced the Internal Revenue Service (IRS).
That’s a 10-cent hike over this year’s figure and marks the first time the per-capita multiplier hits $3. The state minimum is set to rise to $3,455,000 in 2025, up from $3,360,000 this year.
On the private-activity bond side, the amounts used to calculate the state ceiling will be the greater of $130 multiplied by the state population or $388,780,000. That’s an increase from this year’s $125 per capita multiplier and the $378,230,000 state minimum.
The IRS reported the volume caps were reported in Rev. Proc. 2024-40.
