March 3rd, 2014

michele bachmann

(no subject)

Hey guys!

Is anyone else a Low Income Housing Tax Credit (IRS Section 42) renter? I do not understand why it is so difficult to find an answer to what seems like a simple question, but I can't find info on this anywhere and the local renters organization is playing phone tag with me. Does anyone know about the Low Income Housing Tax Credit (IRS Section 42) and the associated restrictions (if any) on rent increases? I know the rent limit has something to do with the county median income but I cannot figure out how to definitively calculate this. I found one page that calculated a maximum that was $5 less than what I'm paying now so I'm not sure that was accurate. Basically my landlord wants to raise my rent from 695 to 745 in Multmomah county and I want to know A) if they can raise my rent as a Section 42 renter, B) by how much, and C) how I can definitively cite proof of this to them, if they are indeed being full of shit.

Thanks!