Maricopa County Low-Income Housing Tax Proposal Rejected (1)

May 21, 2021, 5:06 PM; Updated: May 21, 2021, 6:09 PM

Arizona tax assessors must value low-income housing tax credit properties based on the actual rents charged, the Arizona Court of Appeals ruled, rejecting Maricopa County’s request to overturn that nearly 20-year approach.

The case arose after the county used a valuation methodology from the Arizona Department of Revenue to value El Rancho Affordable Housing LP, a low-income housing tax credit property, at about $4.6 million. El Rancho went to court urging a valuation of $1.3 million based on the complex’s actual restricted rental rates.

Administered by the U.S. Treasury Department, the low-income housing tax credit property program ...

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