Low Income Housing Memorandum (2009)

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In 2008 the General Assembly enacted new G.S.. 105-277.16 effective for 2009 pertaining to certain low-income housing. Low-income housing development properties to which the North Carolina Housing Finance Agency has allocated a federal tax credit under section 42 of the Code has been designated a special class of property. This memo will hopefully give you some guidance in valuing these properties.