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For this reason, many developers agree to make 100% of the units low income in order to maximize the potential tax credits. Projects for (1) new construction and (2) the cost of rehabilitating an existing building, if not funded by tax-exempt bonds, can receive a maximum annual tax credit allocation based on a rate which is generally 4% of any ...
States that don’t tax 401 (k) include Alaska, Illinois, Florida, Nevada, New Hampshire, South Dakota, Mississippi, Pennsylvania, Washington, Texas, Wyoming and Tennessee. That said, in ...
Robin Hood plan. The Robin Hood Plan is a colloquialism given to a provision of Texas Senate Bill 7 (73rd Texas Legislature) (the provision is officially referred to as "recapture"), originally enacted by the U.S. state of Texas in 1993 (and revised frequently since then) to provide equity of school financing within all school districts in the ...
An age-restricted community is a residential community, often gated, that legally discriminates on the basis of age to limit residency to a majority fraction of older individuals—typically 80% over a set age. The minimum age is frequently set at 55 years old, but it can vary. These communities are set up to accommodate older individuals who ...
The so-called golden years can be financially challenging, but state and federal tax breaks can provide some silver linings. Find out what's available. 20 Valuable Tax Breaks for Seniors
An appraised value limitation is an agreement between a taxpayer and a Texas school district in which the taxpayer proposes to build or install property—and create jobs meeting certain job and wage requirements—in exchange for a ten-year limitation on the taxpayer's property value for school district maintenance and operations tax (M&O ...
In Jackson County, seniors age 62 or older may qualify for the Senior Quad Pay Program. While this program does not reduce the amount owed on property tax bills, it allows homeowners to space ...
The primary duties of the comptroller's office are to collect substantially all tax revenue owed to the State of Texas (this involves more than 60 different types of taxes from the sales tax-- the largest source of the state's tax revenue, since Texas does not have a personal income tax-- to minor items such as the "battery sales fee" -- a $2 ...