Each month the Internal Revenue Service publishes the housing credit percentages that apply to low-income rental housing buildings placed in service that month. There are two separate rates—one for the 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 are not federally subsidized. The maximum 30% rate applies to low-income property acquisition expenditures and federally subsidized low-income new construction or substantial rehabilitation expenditures.

The August 2008 housing credit percentages
are as follows—

7.94 for the 70% present value credit
3.40 for the 30% present value credit

Housing Credit Program