text:
Actions Relating to Decisions of the Tax Court
Rev. Rul. 2007-17
T.D. 9313
REG-157834-06
Rev. Rul. 2007-16 Rev. Rul. 2007-16
Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar quarter beginning April 1, 2007, will be 8 percent for overpayments (7 percent in the case of a corporation), 8 percent for underpayments, and 10 percent for large corporate underpayments. The rate of interest paid on the portion of a corporate overpayment exceeding $10,000 will be 5.5 percent.
Fringe benefits aircraft valuation formula. The Standard Industry Fare Level (SIFL) cents-per-mile rates and terminal charge in effect for the first half of 2007 are set forth for purposes of determining the value of noncommercial flights on employer-provided aircraft under section 1.61-21(g) of the regulations.
LIFO; price indexes; department stores. The January 2007 Bureau of Labor Statistics price indexes are accepted for use by department stores employing the retail inventory and last-in, first-out inventory methods for valuing inventories for tax years ended on, or with reference to, January 31, 2007.
T.D. 9313 T.D. 9313
Temporary and proposed regulations under section 368 of the Code provide additional guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation is issued and distributed in the transaction.
REG-157834-06 REG-157834-06
Weighted average interest rate update; corporate bond indices; 30-year Treasury securities. The weighted average interest rate for March 2007 and the resulting permissible range of interest rates used to calculate current liability and to determine the required contribution are set forth.
A list is provided of organizations now classified as private foundations.
The IRS has revoked its determination that American Education Foundation International of San Francisco, CA, and Ladder 12 Firefighters Fund, Inc., of New York, NY, qualify as organizations described in sections 501(c)(3) and 170(c)(2) of the Code.
This procedure provides issuers of qualified mortgage bonds (QMBs) and qualified mortgage credit certificates (MCCs) with average area purchase price safe harbors for statistical areas in the United States and with a nationwide average purchase price for residences in the United States for purposes of the QMB rules under section 143 of the Code and the MCC rules under section 25. Rev. Proc. 2006-17 obsoleted in part.
It is the policy of the Internal Revenue Service to announce at an early date whether it will follow the holdings in certain cases. An Action on Decision is the document making such an announcement. An Action on Decision will be issued at the discretion of the Service only on unappealed issues decided adverse to the government. Generally, an Action on Decision is issued where its guidance would be helpful to Service personnel working with the same or similar issues. Unlike a Treasury Regulation or a Revenue Ruling, an Action on Decision is not an affirmative statement of Service position. It is not intended to serve as public guidance and may not be cited as precedent.
Actions on Decisions shall be relied upon within the Service only as conclusions applying the law to the facts in the particular case at the time the Action on Decision was issued. Caution should be exercised in extending the recommendation of the Action on Decision to similar cases where the facts are different. Moreover, the recommendation in the Action on Decision may be superseded by new legislation, regulations, rulings, cases, or Actions on Decisions.
Prior to 1991, the Service published acquiescence or nonacquiescence only in certain regular Tax Court opinions. The Service has expanded its acquiescence program to include other civil tax cases where guidance is determined to be helpful. Accordingly, the Service now may acquiesce or nonacquiesce in the holdings of memorandum Tax Court opinions, as well as those of the United States District Courts, Claims Court, and Circuit Courts of Appeal. Regardless of the court deciding the case, the recommendation of any Action on Decision will be published in the Internal Revenue Bulletin.
The recommendation in every Action on Decision will be summarized as acquiescence, acquiescence in result only, or nonacquiescence. Both "acquiescence" and "acquiescence in result only" mean that the Service accepts the holding of the court in a case and that the Service will follow it in disposing of cases with the same controlling facts. However, "acquiescence" indicates neither approval nor disapproval of the reasons assigned by the court for its conclusions; whereas, "acquiescence in result only" indicates disagreement or concern with some or all of those reasons. "Nonacquiescence" signifies that, although no further review was sought, the Service does not agree with the holding of the court and, generally, will not follow the decision in disposing of cases involving other taxpayers. In reference to an opinion of a circuit court of appeals, a "nonacquiescence" indicates that the Service will not follow the holding on a nationwide basis. However, the Service will recognize the precedential impact of the opinion on cases arising within the venue of the deciding circuit.
The Actions on Decisions published in the weekly Internal Revenue Bulletin are consolidated semiannually and appear in the first Bulletin for July and the Cumulative Bulletin for the first half of the year. A semiannual consolidation also appears in the first Bulletin for the following January and in the Cumulative Bulletin for the last half of the year.
The Commissioner does NOT ACQUIESCE in the following decision:
Moore v. Commissioner,[1]
T.C. Memo. 2006-171,
T.C. Docket No. 11634-05L
[1] Nonacquiescence relating to whether prohibited ex parte communications during a collection due process hearing before the Office of Appeals may be remedied by sharing the content of the communications with the taxpayer and allowing the taxpayer an opportunity to respond.
For purposes of the taxation of fringe benefits under section 61 of the Internal Revenue Code, section 1.61-21(g) of the Income Tax Regulations provides a rule for valuing noncommercial flights on employer-provided aircraft. Section 1.61-21(g)(5) provides an aircraft valuation formula to determine the value of such flights. The value of a flight is determined under the base aircraft valuation formula (also known as the Standard Industry Fare Level formula or SIFL) by multiplying the SIFL cents-per-mile rates applicable for the period during which the flight was taken by the appropriate aircraft multiple provided in section 1.61-21(g)(7) and then adding the applicable terminal charge. The SIFL cents-per-mile rates in the formula and the terminal charge are calculated by the Department of Transportation and are reviewed semi-annually.
The following chart sets forth the terminal charge and SIFL mileage rates:
Period During Which the Flight Is Taken
Terminal Charge
SIFL Mileage Rates
1/1/07 - 6/30/07 $37.92 Up to 500 miles = $.2075 per mile
501-1500 miles = $.1582 per mile
Over 1500 miles = $.1521 per mile
The principal author of this revenue ruling is Kathleen Edmondson of the Office of Division Counsel/Associate Chief Counsel (Tax Exempt/Government Entities). For further information regarding this revenue ruling, contact Ms. Edmondson at (202) 622-0047 (not a toll-free call).
Corporate Reorganizations; Additional Guidance on Distributions Under Sections 368(a)(1)(D) and 354(b)(1)(B)
26 CFR Part 1
Temporary regulations.
This document contains temporary regulations amending §1.368-2T(l), which provides guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction. These regulations clarify that the rules in §1.368-2T(l) are not intended to affect the qualification of related party triangular asset acquisitions as reorganizations described in section 368. These regulations affect corporations engaging in such transactions and their shareholders. The text of the temporary regulations also serves as the text of the proposed regulations (REG-157834-06) set forth in the notice of proposed rulemaking on this subject in this issue of the Bulletin.
Effective Date: These regulations are effective on March 1, 2007.
Applicability Date: For dates of applicability, see §1.368-2T(l)(4)(i).
Bruce A. Decker at (202) 622-7550 (not a toll-free number).
On December 19, 2006, the IRS and Treasury Department published temporary regulations (T.D. 9303, 2007-5 I.R.B. 379) under §1.368-2T(l) in the Federal Register (71 FR 75879) providing guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction. Under the temporary regulations, in cases where it is determined that the same person or persons own, directly or indirectly, all of the stock of the transferor and transferee corporations in identical proportions, the distribution requirement under sections 368(a)(1)(D) and 354(b)(1)(B) will be treated as satisfied even though no stock is actually issued in the transaction.
In each case where it is determined that the same person or persons own all of the stock of the transferor and transferee corporations in identical proportions, a nominal share of stock of the transferee corporation will be deemed issued in addition to the actual consideration exchanged in the transaction. The nominal share of stock in the transferee corporation will then be deemed distributed by the transferor corporation to its shareholders and, in appropriate circumstances, further transferred to the extent necessary to reflect the actual ownership of the transferor and transferee corporations.
The IRS and Treasury Department have become aware that the temporary regulations may have unintended consequences regarding related party triangular asset acquisitions otherwise qualifying under section 368. Specifically, the temporary regulations may cause certain related party asset acquisitions that would otherwise qualify as tax-free triangular reorganizations to be treated as reorganizations described in section 368(a)(1)(D) with boot.
For example, the temporary regulations may cause a related party transaction that would otherwise qualify as a tax-free reorganization described in section 368(a)(1)(C) in which substantially all of the target corporation's properties are acquired solely in exchange for voting stock of the corporation in control of the acquiring corporation to also be described in section 368(a)(1)(D). If so, section 368(a)(2)(A) would preclude the transaction from being treated as described in section 368(a)(1)(C). Accordingly, the transaction would be treated as described only in section 368(a)(1)(D), and the voting stock of the corporation in control of the acquiring corporation would be treated as boot. Further, the temporary regulations may cause a related party transaction that would otherwise qualify as a tax-free reorganization described in section 368(a)(1)(A) by reason of section 368(a)(2)(D) from so qualifying because the deemed issuance of a nominal share of stock of the acquiring corporation would violate the requirements of section 368(a)(2)(D)(i). If so, the transaction would be treated as described only in section 368(a)(1)(D), and the stock of the corporation in control of the acquiring corporation would be treated as boot.
The IRS and Treasury Department did not intend for the temporary regulations to apply to such transactions.
Explanation of Provisions
These temporary regulations clarify and amend the temporary regulations (T.D. 9303) under §1.368-2T(l) by providing that the deemed issuance of the nominal share of stock of the transferee corporation in a transaction otherwise described in section 368(a)(1)(D) does not apply if the transaction otherwise qualifies as a triangular reorganization described in §1.358-6(b)(2) or section 368(a)(1)(G) by reason of section 368(a)(2)(D). Accordingly, if a transaction qualifies as a triangular reorganization described in §1.358-6(b)(2) or section 368(a)(1)(G) by reason of section 368(a)(2)(D) without regard to the temporary regulations, it will not be treated as a reorganization described in section 368(a)(1)(D).
It has been determined that this Treasury decision is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to these regulations. For the applicability of the Regulatory Flexibility Act, please refer to the cross-reference notice of proposed rulemaking published elsewhere in this issue of the Bulletin. Pursuant to section 7805(f) of the Internal Revenue Code, these regulations were submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on their impact on small business.
Amendments to the Regulations
Accordingly, 26 CFR part 1 is amended as follows:
Paragraph 1. The authority citation for part 1 continues to read as follows:
Par. 2. Section 1.368-2T is amended by adding paragraph (l)(2)(iv) to read as follows:
§1.368-2T Definition of terms (temporary).
(l) * * *
(iv) Exception. Paragraph (l)(2) of this section does not apply to a transaction otherwise described in §1.358-6(b)(2) or section 368(a)(1)(G) by reason of section 368(a)(2)(D).
Kevin M. Brown,
Deputy Commissioner for
Services and Enforcement.
Approved February 21, 2007.
Eric Solomon,
Assistant Secretary of
the Treasury (Tax Policy).
(Filed by the Office of the Federal Register on February 28, 2007, 8:45 a.m., and published in the issue of the Federal Register for March 1, 2007, 72 F.R. 9262)
The principal author of these regulations is Bruce A. Decker of the Office of the Associate Chief Counsel (Corporate).
The following Department Store Inventory Price Indexes for January 2007 were issued by the Bureau of Labor Statistics. The indexes are accepted by the Internal Revenue Service, under § 1.472-1(k) of the Income Tax Regulations and Rev. Proc. 86-46, 1986-2 C.B. 739, for appropriate application to inventories of department stores employing the retail inventory and last-in, first-out inventory methods for tax years ended on, or with reference to, January 31, 2007.
The Department Store Inventory Price Indexes are prepared on a national basis and include (a) 23 major groups of departments, (b) three special combinations of the major groups — soft goods, durable goods, and miscellaneous goods, and (c) a store total, which covers all departments, including some not listed separately, except for the following: candy, food, liquor, tobacco, and contract departments.
BUREAU OF LABOR STATISTICS, DEPARTMENT STORE INVENTORY PRICE INDEXES BY DEPARTMENT GROUPS (January 1941 = 100, unless otherwise noted)
Percent Change From Jan. 2006 to Jan. 20071
1. Piece Goods 436.7 434.9 -0.4
2. Domestics and Draperies 506.9 475.2 -6.3
3. Women's and Children's Shoes 671.3 645.4 -3.9
4. Men's Shoes 868.1 875.2 0.8
5. Infants' Wear 555.2 558.2 0.5
6. Women's Underwear 545.6 551.7 1.1
7. Women's Hosiery 341.3 344.7 1.0
8. Women's and Girls' Accessories 555.4 537.2 -3.3
9. Women's Outerwear and Girls' Wear 325.7 338.1 3.8
10. Men's Clothing 516.8 514.5 -0.4
11. Men's Furnishings 555.5 559.2 0.7
12. Boys' Clothing and Furnishings 396.5 371.0 -6.4
13. Jewelry 868.9 909.5 4.7
14. Notions 794.2 817.1 2.9
15. Toilet Articles and Drugs 1010.7 1004.5 -0.6
16. Furniture and Bedding 603.9 597.1 -1.1
17. Floor Coverings 611.0 613.7 0.4
18. Housewares 699.4 689.4 -1.4
19. Major Appliances 204.3 210.2 2.9
20. Radio and Television 37.4 33.6 -10.2
21. Recreation and Education2 77.3 76.3 -1.3
22. Home Improvements2 138.0 141.3 2.4
23. Automotive Accessories2 117.2 122.4 4.4
Groups 1-15: Soft Goods 540.9 542.1 0.2
Groups 16-20: Durable Goods 375.6 370.6 -1.3
Groups 21-23: Misc. Goods2 93.1 93.9 0.9
Store Total3 482.8 482.8 0.0
1Absence of a minus sign before the percentage change in this column signifies a price increase.
2Indexes on a January 1986 = 100 base.
3The store total index covers all departments, including some not listed separately, except for the following: candy, food, liquor, tobacco, and contract departments.
The principal author of this revenue ruling is John Roman Faron of the Office of Associate Chief Counsel (Income Tax and Accounting). For further information regarding this revenue ruling, contact Mr. Faron at (202) 622-4930 (not a toll-free call).
Section 6621 of the Internal Revenue Code establishes the rates for interest on tax overpayments and tax underpayments. Under section 6621(a)(1), the overpayment rate is the sum of the federal short-term rate plus 3 percentage points (2 percentage points in the case of a corporation), except the rate for the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the sum of the federal short-term rate plus 0.5 of a percentage point for interest computations made after December 31, 1994. Under section 6621(a)(2), the underpayment rate is the sum of the federal short-term rate plus 3 percentage points.
Section 6621(c) provides that for purposes of interest payable under section 6601 on any large corporate underpayment, the underpayment rate under section 6621(a)(2) is determined by substituting "5 percentage points" for "3 percentage points." See section 6621(c) and section 301.6621-3 of the Regulations on Procedure and Administration for the definition of a large corporate underpayment and for the rules for determining the applicable date. Section 6621(c) and section 301.6621-3 are generally effective for periods after December 31, 1990.
Section 6621(b)(1) provides that the Secretary will determine the federal short-term rate for the first month in each calendar quarter.
Section 6621(b)(2)(A) provides that the federal short-term rate determined under section 6621(b)(1) for any month applies during the first calendar quarter beginning after such month.
Section 6621(b)(2)(B) provides that in determining the addition to tax under section 6654 for failure to pay estimated tax for any taxable year, the federal short-term rate that applies during the third month following such taxable year also applies during the first 15 days of the fourth month following such taxable year.
Section 6621(b)(3) provides that the federal short-term rate for any month is the federal short-term rate determined during such month by the Secretary in accordance with § 1274(d), rounded to the nearest full percent (or, if a multiple of 1/2 of 1 percent, the rate is increased to the next highest full percent).
Notice 88-59, 1988-1 C.B. 546, announced that, in determining the quarterly interest rates to be used for overpayments and underpayments of tax under section 6621, the Internal Revenue Service will use the federal short-term rate based on daily compounding because that rate is most consistent with section 6621 which, pursuant to section 6622, is subject to daily compounding.
Rounded to the nearest full percent, the federal short-term rate based on daily compounding determined during the month of January 2007 is 5 percent. Accordingly, an overpayment rate of 8 percent (7 percent in the case of a corporation) and an underpayment rate of 8 percent are established for the calendar quarter beginning April 1, 2007. The overpayment rate for the portion of a corporate overpayment exceeding $10,000 for the calendar quarter beginning April 1, 2007, is 5.5 percent. The underpayment rate for large corporate underpayments for the calendar quarter beginning April 1, 2007, is 10 percent. These rates apply to amounts bearing interest during that calendar quarter.
Under section 6621(b)(2)(B), the 8 percent rate that applies to estimated tax underpayments for the first calendar quarter in 2007, as provided in Rev. Rul. 2006-63, 2006-52 I.R.B. 1143, also applies to such underpayments for the first 15 days in April 2007.
Interest factors for daily compound interest for annual rates of 5.5 percent, 7 percent, 8 percent, and 10 percent are published in Tables 16, 19, 21, and 25 of Rev. Proc. 95-17, 1995-1 C.B. 556, 570, 573, 575, and 579.
Annual interest rates to be compounded daily pursuant to section 6622 that apply for prior periods are set forth in the tables accompanying this revenue ruling.
The principal author of this revenue ruling is Raymond Bailey of the Office of Associate Chief Counsel (Procedure & Administration). For further information regarding this revenue ruling, contact Mr. Bailey at (202) 622-4910 (not a toll-free call).
TABLE OF INTEREST RATES
PERIODS BEFORE JUL. 1, 1975 — PERIODS ENDING DEC. 31, 1986
OVERPAYMENTS AND UNDERPAYMENTS
In 1995-1 C.B. DAILY RATE TABLE
Before Jul. 1, 1975 6% Table 2, pg.557
Jul. 1, 1975—Jan. 31, 1976 9% Table 4, pg.559
Feb. 1, 1976—Jan. 31, 1978 7% Table 3, pg.558
Feb. 1, 1980—Jan. 31, 1982 12% Table 5, pg.560
Feb. 1, 1982—Dec. 31, 1982 20% Table 6, pg.560
Jan. 1, 1983—Jun. 30, 1983 16% Table 37, pg. 591
Jul. 1, 1983—Dec. 31, 1983 11% Table 27, pg. 581
Jul. 1, 1986—Dec. 31, 1986 9% Table 23, pg. 577
FROM JAN. 1, 1987 — DEC. 31, 1998
UNDERPAYMENTS
1995-1 C.B.
Jan. 1, 1987—Mar. 31, 1987 8% 21 575 9% 23 577
Apr. 1, 1987—Jun. 30, 1987 8% 21 575 9% 23 577
Jul. 1, 1987—Sep. 30, 1987 8% 21 575 9% 23 577
Oct. 1, 1987—Dec. 31, 1987 9% 23 577 10% 25 579
Jan. 1, 1988—Mar. 31, 1988 10% 73 627 11% 75 629
Apr. 1, 1988—Jun. 30, 1988 9% 71 625 10% 73 627
Jul. 1, 1988—Sep. 30, 1988 9% 71 625 10% 73 627
Oct. 1, 1988—Dec. 31, 1988 10% 73 627 11% 75 629
Apr. 1, 1989—Jun. 30, 1989 11% 27 581 12% 29 583
Jul. 1, 1989—Sep. 30, 1989 11% 27 581 12% 29 583
Oct. 1, 1992—Dec. 31, 1992 6% 65 619 7% 67 621
FROM JANUARY 1, 1999 — PRESENT
NONCORPORATE OVERPAYMENTS AND UNDERPAYMENTS
Jan. 1, 1999—Mar. 31, 1999 7% 19 573
Apr. 1, 1999—Jun. 30, 1999 8% 21 575
Jul. 1, 1999—Sep. 30, 1999 8% 21 575
Oct. 1, 1999—Dec. 31, 1999 8% 21 575
Apr. 1, 2007— Jun. 30, 2007 8% 21 575
CORPORATE OVERPAYMENTS AND UNDERPAYMENTS
TABLE OF INTEREST RATES FOR
LARGE CORPORATE UNDERPAYMENTS
Jan. 1, 1991—Mar. 31, 1991 13% 31 585
Apr. 1, 1991—Jun. 30, 1991 12% 29 583
Jul. 1, 1991—Sep. 30, 1991 12% 29 583
Oct. 1, 1991—Dec. 31, 1991 12% 29 583
TABLE OF INTEREST RATES FOR CORPORATE
OVERPAYMENTS EXCEEDING $10,000
Jan. 1, 1995—Mar. 31, 1995 6.5% 18 572
Apr. 1, 1995—Jun. 30, 1995 7.5% 20 574
Jul. 1, 1995—Sep. 30, 1995 6.5% 18 572
Oct. 1, 1995—Dec. 31, 1995 6.5% 18 572
Oct. 1, 2003—Dec. 31, 2003 1.5% 8 562
Weighted Average Interest Rates Update
This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code. In addition, it provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II).
Sections 412(b)(5)(B)(ii) and 412(l)(7)(C)(i), as amended by the Pension Funding Equity Act of 2004 and by the Pension Protection Act of 2006, provide that the interest rates used to calculate current liability and to determine the required contribution under § 412(l) for plan years beginning in 2004 through 2007 must be within a permissible range based on the weighted average of the rates of interest on amounts invested conservatively in long term investment grade corporate bonds during the 4-year period ending on the last day before the beginning of the plan year.
Notice 2004-34, 2004-1 C.B. 848, provides guidelines for determining the corporate bond weighted average interest rate and the resulting permissible range of interest rates used to calculate current liability. That notice establishes that the corporate bond weighted average is based on the monthly composite corporate bond rate derived from designated corporate bond indices. The methodology for determining the monthly composite corporate bond rate as set forth in Notice 2004-34 continues to apply in determining that rate. See Notice 2006-75, 2006-36 I.R.B. 366.
For Plan Years Beginning in:
90% to 100% Permissible Range
March 2007 5.80 5.22 to 5.80
30-YEAR TREASURY SECURITIES INTEREST RATE
Section 417(e)(3)(A)(ii)(II) defines the applicable interest rate, which must be used for purposes of determining the minimum present value of a participant's benefit under § 417(e)(1) and (2), as the annual rate of interest on 30-year Treasury securities for the month before the date of distribution or such other time as the Secretary may by regulations prescribe. Section 1.417(e)-1(d)(3) of the Income Tax Regulations provides that the applicable interest rate for a month is the annual interest rate on 30-year Treasury securities as specified by the Commissioner for that month in revenue rulings, notices or other guidance published in the Internal Revenue Bulletin.
The rate of interest on 30-year Treasury securities for February 2007 is 4.82 percent. The Service has determined this rate as the average of the yield on the 30-year Treasury bond maturing in February 2036 determined each day through February 7, 2007, and the yield on the 30-year Treasury bond maturing in February 2037 determined each day for the balance of the month.
The principal authors of this notice are Paul Stern and Tony Montanaro of the Employee Plans, Tax Exempt and Government Entities Division. For further information regarding this notice, please contact the Employee Plans' taxpayer assistance telephone service at 877-829-5500 (a toll-free number), between the hours of 8:30 a.m. and 4:30 p.m. Eastern time, Monday through Friday. Mr. Stern may be reached at 202-283-9703. Mr. Montanaro may be reached at 202-283-9714. The telephone numbers in the two preceding sentences are not toll-free.
This revenue procedure provides issuers of qualified mortgage bonds, as defined in section 143(a) of the Internal Revenue Code, and issuers of mortgage credit certificates, as defined in section 25(c), with (1) the nationwide average purchase price for residences located in the United States, and (2) average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam.
.01 Section 103(a) provides that, except as provided in section 103(b), gross income does not include interest on any state or local bond. Section 103(b)(1) provides that section 103(a) shall not apply to any private activity bond that is not a "qualified bond" within the meaning of section 141. Section 141(e) provides, in part, that the term "qualified bond" means any private activity bond if such bond (1) is a qualified mortgage bond under section 143, (2) meets the volume cap requirements under section 146, and (3) meets the applicable requirements under section 147.
.02 Section 143(a)(1) provides that the term "qualified mortgage bond" means a bond that is issued as part of a qualified mortgage issue. Section 143(a)(2)(A) provides that the term "qualified mortgage issue" means an issue of one or more bonds by a state or political subdivision thereof, but only if: (i) all proceeds of the issue (exclusive of issuance costs and a reasonably required reserve) are to be used to finance owner-occupied residences; (ii) the issue meets the requirements of subsections (c), (d), (e), (f), (g), (h), (i), and (m)(7) of section 143; (iii) the issue does not meet the private business tests of paragraphs (1) and (2) of section 141(b); and (iv) with respect to amounts received more than 10 years after the date of issuance, repayments of $250,000 or more of principal on mortgage financing provided by the issue are used by the close of the first semiannual period beginning after the date the prepayment (or complete repayment) is received to redeem bonds that are part of the issue.
Average Area Purchase Price
.03 Section 143(e)(1) provides that an issue of bonds meets the purchase price requirements of section 143(e) if the acquisition cost of each residence financed by the issue does not exceed 90 percent of the average area purchase price applicable to such residence. Section 143(e)(5) provides that, in the case of a targeted area residence (as defined in section 143(j)), section 143(e)(1) shall be applied by substituting 110 percent for 90 percent.
.04 Section 143(e)(2) provides that the term "average area purchase price" means, with respect to any residence, the average purchase price of single-family residences (in the statistical area in which the residence is located) that were purchased during the most recent 12-month period for which sufficient statistical information is available. Under sections 143(e)(3) and (4), respectively, separate determinations are to be made for new and existing residences, and for two-, three-, and four-family residences.
.05 Section 143(e)(2) provides that the determination of the average area purchase price for a statistical area shall be made as of the date on which the commitment to provide the financing is made or, if earlier, the date of the purchase of the residence.
.06 Section 143(k)(2)(A) provides that the term "statistical area" means (i) a metropolitan statistical area (MSA), and (ii) any county (or the portion thereof) that is not within an MSA. Section 143(k)(2)(C) further provides that if sufficient recent statistical information with respect to a county (or portion thereof) is unavailable, the Secretary may substitute another area for which there is sufficient recent statistical information for such county (or portion thereof). In the case of any portion of a State which is not within a county, section 143(k)(2)(D) provides that the Secretary may designate as a county any area that is the equivalent of a county. Section 6a.103A-1(b)(4)(i) of the Temporary Income Tax Regulations (issued under section 103A of the Internal Revenue Code of 1954, the predecessor of section 143) provides that the term "State" includes a possession of the United States and the District of Columbia.
.07 Section 6a.103A-2(f)(5)(i) provides that an issuer may rely upon the average area purchase price safe harbors published by the Department of the Treasury for the statistical area in which a residence is located. Section 6a.103A-2(f)(5)(i) further provides that an issuer may use an average area purchase price limitation different from the published safe harbor if the issuer has more accurate and comprehensive data for the statistical area.
Qualified Mortgage Credit Certificate Program
.08 Section 25(c) permits a state or political subdivision to establish a qualified mortgage credit certificate program. In general, a qualified mortgage credit certificate program is a program under which the issuing authority elects not to issue an amount of private activity bonds that it may otherwise issue during the calendar year under section 146, and in their place, issues mortgage credit certificates to taxpayers in connection with the acquisition of their principal residences. Section 25(a)(1) provides, in general, that the holder of a mortgage credit certificate may claim a federal income tax credit equal to the product of the credit rate specified in the certificate and the interest paid or accrued during the tax year on the remaining principal of the indebtedness incurred to acquire the residence. Section 25(c)(2)(A)(iii)(III) generally provides that residences acquired in connection with the issuance of mortgage credit certificates must meet the purchase price requirements of section 143(e).
Income Limitations for Qualified Mortgage Bonds and Mortgage Credit Certificates
.09 Section 143(f) imposes limitations on the income of mortgagors for whom financing may be provided by qualified mortgage bonds. In addition, section 25(c)(2)(A)(iii)(IV) provides that holders of mortgage credit certificates must meet the income requirement of section 143(f). Generally, under sections 143(f)(1) and 25(c)(2)(A)(iii)(IV), the income requirement is met only if all owner-financing under a qualified mortgage bond and all mortgage credit certificates issued under a qualified mortgage credit certificate program are provided to mortgagors whose family income is 115 percent or less of the applicable median family income. Section 143(f)(5), however, generally provides for an upward adjustment to the percentage limitation in high housing cost areas. High housing cost areas are defined in section 143(f)(5)(C) as any statistical area for which the housing cost/income ratio is greater than 1.2.
.10 Under section 143(f)(5)(D), the housing cost/income ratio with respect to any statistical area is determined by dividing (a) the applicable housing price ratio for such area by (b) the ratio that the area median gross income for such area bears to the median gross income for the United States. The applicable housing price ratio is the new housing price ratio (new housing average area purchase price divided by the new housing average purchase price for the United States) or the existing housing price ratio (existing housing average area purchase price divided by the existing housing average purchase price for the United States), whichever results in the housing cost/income ratio being closer to 1.
Average Area and Nationwide Purchase Price Limitations
.11 Average area purchase price safe harbors for each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam were last published in Rev. Proc. 2006-17, 2006-14 I.R.B. 709.
.12 The nationwide average purchase price limitation was last published in section 4.02 of Rev. Proc. 2006-17. Guidance with respect to the United States and area median gross income figures that are to be used in computing the housing cost/income ratio described in section 143(f)(5) was last published in Rev. Proc. 2006-20, 2006-17 I.R.B. 841.
.13 This revenue procedure uses FHA loan limits for a given statistical area to calculate the average area purchase price safe harbor for that area. FHA sets limits on the dollar value of loans it will insure based on median home prices and conforming loan limits established by the Federal Home Loan Mortgage Corporation. In particular, FHA sets an area's loan limit at 95 percent of the median home sales price for the area, subject to certain floors and caps measured against conforming loan limits.
.14 To calculate the average area purchase price safe harbors in this revenue procedure, the FHA loan limits are adjusted to take into account the differences between average and median purchase prices. Because FHA loan limits do not differentiate between new and existing residences, this revenue procedure contains a single average area purchase price safe harbor for both new and existing residences in a statistical area. The Treasury Department and the Internal Revenue Service have determined that FHA loan limits provide a reasonable basis for determining average area purchase price safe harbors. If the Treasury Department and the Internal Revenue Service become aware of other sources of average purchase price data, including data that differentiate between new and existing residences, consideration will be given as to whether such data provide a more accurate method for calculating average area purchase price safe harbors.
.15 The average area purchase price safe harbors listed in section 4.01 of this revenue procedure are based on FHA loan limits released January 3, 2007. FHA loan limits are available for statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam. See section 3.03 of this revenue procedure with respect to FHA loan limits revised after January 3, 2007.
.16 OMB Bulletin No. 03-04, dated and effective June 6, 2003, revised the definitions of the nation's metropolitan areas and recognized 49 new metropolitan statistical areas. The OMB bulletin no longer includes primary metropolitan statistical areas.
SECTION 3. APPLICATION
Average Area Purchase Price Safe Harbors
.01 Average area purchase price safe harbors for statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam are set forth in section 4.01 of this revenue procedure. Average area purchase price safe harbors are provided for single-family and two to four-family residences. For each type of residence, section 4.01 of this revenue procedure contains a single safe harbor that may be used for both new and existing residences. Issuers of qualified mortgage bonds and issuers of mortgage credit certificates may rely on these safe harbors to satisfy the requirements of sections 143(e) and (f). Section 4.01 of this revenue procedure provides safe harbors for MSAs and for certain counties and county equivalents. If no purchase price safe harbor is available for a statistical area, the safe harbor for "ALL OTHER AREAS" may be used for that statistical area (except for Alaska, for which a separate safe harbor is provided for statistical areas not listed).
.02 If a residence is in an MSA, the safe harbor applicable to it is the limitation of that MSA. If an MSA falls in more than one state, the MSA is listed in section 4.01 of this revenue procedure under each state.
.03 If the FHA revises the FHA loan limit for any statistical area after January 3, 2006, an issuer of qualified mortgage bonds or mortgage credit certificates may use the revised FHA loan limit for that statistical area to compute (as provided in the next sentence) a revised average area purchase price safe harbor for the statistical area provided that the issuer maintains records evidencing the revised FHA loan limit. The revised average area purchase price safe harbor for that statistical area is computed by dividing the revised FHA loan limit by .76.
.04 If, pursuant to section 6a.103A-2(f)(5)(i), an issuer uses more accurate and comprehensive data to determine the average area purchase price for a statistical area, the issuer must make separate average area purchase price determinations for new and existing residences. Moreover, when computing the average area purchase price for a statistical area that is an MSA, as defined in OMB Bulletin No. 03-04, the issuer must make the computation for the entire applicable MSA. When computing the average area purchase price for a statistical area that is not an MSA, the issuer must make the computation for the entire statistical area and may not combine statistical areas. Thus, for example, the issuer may not combine two or more counties.
.05 If an issuer receives a ruling permitting it to rely on an average area purchase price limitation that is higher than the applicable safe harbor in this revenue procedure, the issuer may rely on that higher limitation for the purpose of satisfying the requirements of section 143(e) and (f) for bonds sold, and mortgage credit certificates issued, not more than 30 months following the termination date of the 12-month period used by the issuer to compute the limitation.
Nationwide Average Purchase Price
.06 Section 4.02 of this revenue procedure sets forth a single nationwide average purchase price for purposes of computing the housing cost/income ratio under section 143(f)(5).
.07 Issuers must use the nationwide average purchase price set forth in section 4.02 of this revenue procedure when computing the housing cost/income ratio under section 143(f)(5) regardless of whether they are relying on the average area purchase price safe harbors contained in this revenue procedure or using more accurate and comprehensive data to determine average area purchase prices for new and existing residences for a statistical area that are different from the published safe harbors in this revenue procedure.
.08 If, pursuant to section 6.02 of this revenue procedure, an issuer relies on the average area purchase price safe harbors contained in Rev. Proc. 2006-17, the issuer must use the nationwide average purchase price set forth in section 4.02 of Rev. Proc. 2006-17 in computing the housing cost/income ratio under section 143(f)(5). Likewise, if, pursuant to section 6.05 of this revenue procedure, an issuer relies on the nationwide average purchase price published in Rev. Proc. 2006-17, the issuer may not rely on the average area purchase price safe harbors published in this revenue procedure.
SECTION 4. AVERAGE AREA AND NATIONWIDE AVERAGE PURCHASE PRICES
.01 Average area purchase prices for single-family and two to four-family residences in MSAs, and for certain counties and county equivalents are set forth below. The safe harbor for "ALL OTHER AREAS" (found at the end of the table below) may be used for a statistical area that is not listed below.
MSA NAME
SAFE HARBOR AVERAGE PRICE
1 LIVING UNIT
2 LIVING UNITS
AK ANCHORAGE, AK (MSA) ANCHORAGE $335,592 $377,982 $459,276 $529,934
NON-METRO DENALI $316,137 $404,668 $489,126 $607,879
JUNEAU, AK (MICRO) JUNEAU $398,750 $449,118 $545,658 $629,605
ANCHORAGE, AK (MSA) MATANUSKA-SUSIT $335,592 $377,982 $459,276 $529,934
NON-METRO SITKA $431,250 $485,724 $590,132 $680,921
NON-METRO YAKUTAT CITY $316,137 $404,668 $489,126 $607,879
AZ FLAGSTAFF, AZ (MSA) COCONINO $437,500 $492,763 $598,684 $690,789
PAYSON, AZ (MICRO) GILA $293,750 $337,168 $407,558 $506,495
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) MARICOPA $346,250 $389,987 $473,816 $546,711
LAKE HAVASU CITY-KINGMAN, AZ (MICRO) MOHAVE $321,842 $362,500 $440,461 $508,224
NON-METRO NAVAJO $265,000 $337,168 $407,558 $506,495
TUCSON, AZ (MSA) PIMA $315,592 $355,461 $431,908 $506,495
PHOENIX-MESA-SCOTTSDALE, AZ (MSA) PINAL $346,250 $389,987 $473,816 $546,711
PRESCOTT, AZ (MSA) YAVAPAI $375,000 $422,368 $513,158 $592,105
CA OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN ALAMEDA $477,355 $611,117 $738,699 $918,021
NON-METRO ALPINE $477,355 $611,117 $738,699 $918,021
NON-METRO AMADOR $443,750 $506,842 $615,789 $710,526
CHICO, CA (MSA) BUTTE $400,000 $450,526 $547,368 $631,579
NON-METRO CALAVERAS $477,355 $550,461 $668,816 $774,671
NON-METRO COLUSA $381,250 $429,408 $521,711 $601,974
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN CONTRA COSTA $477,355 $611,117 $738,699 $918,021
CRESCENT CITY, CA (MICRO) DEL NORTE $311,250 $350,566 $425,921 $506,495
SACRAMENTO-ARDEN-ARCADE-ROSEVILLE, CA EL DORADO $477,355 $587,092 $713,289 $823,026
FRESNO, CA (MSA) FRESNO $381,250 $429,408 $521,711 $601,974
NON-METRO GLENN $283,750 $337,168 $407,558 $506,495
EUREKA-ARCATA-FORTUNA, CA (MICRO) HUMBOLDT $393,750 $443,487 $538,816 $621,711
EL CENTRO, CA (MSA) IMPERIAL $274,934 $337,168 $407,558 $506,495
BISHOP, CA (MICRO) INYO $477,355 $542,039 $658,553 $759,868
BAKERSFIELD, CA (MSA) KERN $368,750 $415,329 $504,605 $582,237
HANFORD-CORCORAN, CA (MSA) KINGS $312,316 $351,766 $427,379 $506,495
CLEARLAKE, CA (MICRO) LAKE $401,250 $451,934 $549,079 $633,553
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN LOS ANGELES $477,355 $611,117 $738,699 $918,021
MADERA, CA (MSA) MADERA $425,000 $478,684 $581,579 $671,053
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA MARIN $477,355 $611,117 $738,699 $918,021
NON-METRO MARIPOSA $411,704 $464,605 $564,474 $651,316
UKIAH, CA (MICRO) MENDOCINO $477,355 $563,158 $684,211 $789,474
MERCED, CA (MSA) MERCED $471,557 $531,122 $645,288 $744,564
NON-METRO MONO $477,355 $611,117 $738,699 $918,021
SALINAS, CA (MSA) MONTEREY $477,355 $611,117 $738,699 $918,021
NAPA, CA (MSA) NAPA $477,355 $611,117 $738,699 $918,021
TRUCKEE-GRASS VALLEY, CA (MICRO) NEVADA $477,355 $611,117 $738,699 $918,021
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN ORANGE $477,355 $611,117 $738,699 $918,021
SACRAMENTO-ARDEN-ARCADE-ROSEVILLE, CA PLACER $477,355 $587,092 $713,289 $823,026
NON-METRO PLUMAS $410,000 $461,789 $561,053 $647,368
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA) RIVERSIDE $477,355 $561,711 $682,500 $787,500
SACRAMENTO-ARDEN-ARCADE-ROSEVILLE, CA SACRAMENTO $477,355 $587,092 $713,289 $823,026
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA) SAN BENITO $477,355 $611,117 $738,699 $918,021
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA) SAN BERNARDINO $477,355 $561,711 $682,500 $787,500
SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA) SAN DIEGO $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA SAN FRANCISCO $477,355 $611,117 $738,699 $918,021
STOCKTON, CA (MSA) SAN JOAQUIN $477,355 $549,079 $667,105 $769,737
SAN LUIS OBISPO-PASO ROBLES, CA (MSA) SAN LUIS OBISPO $477,355 $611,117 $738,699 $918,021
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA SAN MATEO $477,355 $611,117 $738,699 $918,021
SANTA BARBARA-SANTA MARIA, CA (MSA) SANTA BARBARA $477,355 $611,117 $738,699 $918,021
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA) SANTA CLARA $477,355 $611,117 $738,699 $918,021
SANTA CRUZ-WATSONVILLE, CA (MSA) SANTA CRUZ $477,355 $611,117 $738,699 $918,021
REDDING, CA (MSA) SHASTA $423,625 $477,136 $579,697 $668,882
NON-METRO SISKIYOU $293,750 $337,168 $407,558 $506,495
VALLEJO-FAIRFIELD, CA (MSA) SOLANO $477,355 $611,117 $738,699 $907,895
SANTA ROSA-PETALUMA, CA (MSA) SONOMA $477,355 $611,117 $738,699 $918,021
MODESTO, CA (MSA) STANISLAUS $477,355 $537,653 $653,222 $753,718
YUBA CITY, CA (MSA) SUTTER $424,680 $478,325 $581,142 $670,549
RED BLUFF, CA (MICRO) TEHAMA $293,750 $337,168 $407,558 $506,495
VISALIA-PORTERVILLE, CA (MSA) TULARE $325,000 $366,053 $444,737 $513,158
PHOENIX LAKE-CEDAR RIDGE, CA (MICRO) TUOLUMNE $437,500 $492,763 $598,684 $690,789
OXNARD-THOUSAND OAKS-VENTURA, CA (MSA) VENTURA $477,355 $611,117 $738,699 $918,021
SACRAMENTO-ARDEN-ARCADE-ROSEVILLE, CA YOLO $477,355 $587,092 $713,289 $823,026
YUBA CITY, CA (MSA) YUBA $424,680 $478,325 $581,142 $670,549
CO DENVER-AURORA, CO (MSA) ADAMS $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) ARAPAHOE $405,750 $457,003 $555,237 $640,658
NON-METRO ARCHULETA $263,487 $337,168 $407,558 $506,495
BOULDER, CO (MSA) BOULDER $458,500 $516,416 $627,421 $723,947
DENVER-AURORA, CO (MSA) BROOMFIELD $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) CLEAR CREEK $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) DENVER $405,750 $457,003 $555,237 $640,658
DENVER-AURORA, CO (MSA) DOUGLAS $405,750 $457,003 $555,237 $640,658
EDWARDS, CO (MICRO) EAGLE $477,355 $537,653 $653,222 $753,718
COLORADO SPRINGS, CO (MSA) EL PASO $325,000 $366,053 $444,737 $513,158
DENVER-AURORA, CO (MSA) ELBERT $405,750 $457,003 $555,237 $640,658
NON-METRO GARFIELD $393,209 $442,878 $538,075 $620,857
DENVER-AURORA, CO (MSA) GILPIN $405,750 $457,003 $555,237 $640,658
NON-METRO GRAND $293,750 $337,168 $407,558 $506,495
DENVER-AURORA, CO (MSA) JEFFERSON $405,750 $457,003 $555,237 $640,658
DURANGO, CO (MICRO) LA PLATA $303,750 $342,118 $415,658 $506,495
EDWARDS, CO (MICRO) LAKE $477,355 $537,653 $653,222 $753,718
FORT COLLINS-LOVELAND, CO (MSA) LARIMER $312,500 $351,974 $427,632 $506,495
DENVER-AURORA, CO (MSA) PARK $405,750 $457,003 $555,237 $640,658
NON-METRO PITKIN $381,999 $488,975 $591,028 $734,521
NON-METRO ROUTT $398,026 $448,303 $544,667 $628,462
NON-METRO SAN MIGUEL $477,355 $611,117 $738,699 $918,021
SILVERTHORNE, CO (MICRO) SUMMIT $431,250 $485,724 $590,132 $680,921
COLORADO SPRINGS, CO (MSA) TELLER $325,000 $366,053 $444,737 $513,158
GREELEY, CO (MSA) WELD $361,250 $406,882 $494,342 $570,395
CT BRIDGEPORT-STAMFORD-NORWALK, CT (MSA) FAIRFIELD $477,355 $611,117 $738,699 $918,021
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT HARTFORD $439,125 $494,593 $600,908 $693,355
TORRINGTON, CT (MICRO) LITCHFIELD $375,000 $422,368 $513,158 $592,105
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT MIDDLESEX $439,125 $494,593 $600,908 $693,355
NEW HAVEN-MILFORD, CT (MSA) NEW HAVEN $385,625 $435,039 $528,553 $609,868
NORWICH-NEW LONDON, CT (MSA) NEW LONDON $398,750 $449,118 $545,658 $629,605
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT TOLLAND $439,125 $494,593 $600,908 $693,355
DC WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD DISTRICT OF COL $477,355 $611,117 $738,699 $888,158
DE DOVER, DE (MSA) KENT $350,395 $394,655 $479,487 $553,255
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION NEW CASTLE $385,112 $433,758 $526,996 $608,072
SEAFORD, DE (MICRO) SUSSEX $325,000 $366,053 $444,737 $513,158
FL GAINESVILLE, FL (MSA) ALACHUA $269,000 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) BAKER $387,500 $436,447 $530,263 $611,842
PANAMA CITY-LYNN HAVEN, FL (MSA) BAY $331,250 $373,092 $453,289 $523,026
PALM BAY-MELBOURNE-TITUSVILLE, FL (MSA) BREVARD $291,250 $337,168 $407,558 $506,495
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BROWARD $477,355 $544,336 $661,343 $763,088
PUNTA GORDA, FL (MSA) CHARLOTTE $295,012 $337,168 $407,558 $506,495
JACKSONVILLE, FL (MSA) CLAY $387,500 $436,447 $530,263 $611,842
NAPLES-MARCO ISLAND, FL (MSA) COLLIER $477,355 $563,017 $684,039 $789,276
JACKSONVILLE, FL (MSA) DUVAL $387,500 $436,447 $530,263 $611,842
PALM COAST, FL (MICRO) FLAGLER $287,500 $337,168 $407,558 $506,495
GAINESVILLE, FL (MSA) GILCHRIST $269,000 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) HERNANDO $292,500 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) HILLSBOROUGH $292,500 $337,168 $407,558 $506,495
SEBASTIAN-VERO BEACH, FL (MSA) INDIAN RIVER $281,250 $337,168 $407,558 $506,495
ORLANDO-KISSIMMEE, FL (MSA) LAKE $338,750 $381,539 $463,553 $534,868
CAPE CORAL-FORT MYERS, FL (MSA) LEE $356,250 $401,250 $487,500 $562,500
SARASOTA-BRADENTON-VENICE, FL (MSA) MANATEE $442,237 $498,097 $605,166 $698,268
PORT ST. LUCIE-FORT PIERCE, FL (MSA) MARTIN $364,000 $409,979 $498,105 $574,737
MIAMI-MIAMI BEACH-KENDALL, FL METROPOLITAN MIAMI-DADE $477,355 $544,336 $661,343 $763,088
KEY WEST-MARATHON, FL (MICRO) MONROE $477,355 $611,117 $738,699 $918,021
JACKSONVILLE, FL (MSA) NASSAU $387,500 $436,447 $530,263 $611,842
FORT WALTON BEACH-CRESTVIEW-DESTIN, FL (MSA) OKALOOSA $312,375 $351,833 $427,461 $506,495
ORLANDO-KISSIMMEE, FL (MSA) ORANGE $338,750 $381,539 $463,553 $534,868
ORLANDO-KISSIMMEE, FL (MSA) OSCEOLA $338,750 $381,539 $463,553 $534,868
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH PALM BEACH $477,355 $544,336 $661,343 $763,088
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) PASCO $292,500 $337,168 $407,558 $506,495
TAMPA-ST. PETERSBURG-CLEARWATER, FL (MSA) PINELLAS $292,500 $337,168 $407,558 $506,495
LAKELAND, FL (MSA) POLK $270,000 $337,168 $407,558 $506,495
SARASOTA-BRADENTON-VENICE, FL (MSA) SARASOTA $442,237 $498,097 $605,166 $698,268
ORLANDO-KISSIMMEE, FL (MSA) SEMINOLE $338,750 $381,539 $463,553 $534,868
JACKSONVILLE, FL (MSA) ST. JOHNS $387,500 $436,447 $530,263 $611,842
PORT ST. LUCIE-FORT PIERCE, FL (MSA) ST. LUCIE $364,000 $409,979 $498,105 $574,737
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (MSA) VOLUSIA $302,864 $341,121 $414,446 $506,495
NON-METRO WALTON $477,355 $538,520 $654,276 $791,700
GA ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) BARROW $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) BARTOW $332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA) BRANTLEY $275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) BUTTS $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) CARROLL $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) CHEROKEE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) CLAYTON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) COBB $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) COWETA $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) DAWSON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) DEKALB $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) DOUGLAS $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) FAYETTE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) FORSYTH $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) FULTON $332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA) GLYNN $275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) GWINNETT $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) HARALSON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) HEARD $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) HENRY $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) JASPER $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) LAMAR $332,750 $374,782 $455,342 $525,395
BRUNSWICK, GA (MSA) MCINTOSH $275,921 $337,168 $407,558 $506,495
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) MERIWETHER $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) NEWTON $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) PAULDING $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) PICKENS $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) PIKE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) ROCKDALE $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) SPALDING $332,750 $374,782 $455,342 $525,395
ATLANTA-SANDY SPRINGS-MARIETTA, GA (MSA) WALTON $332,750 $374,782 $455,342 $525,395
HI HILO, HI (MICRO) HAWAII $593,750 $668,750 $812,500 $937,500
HONOLULU, HI (MSA) HONOLULU $716,033 $865,929 $1,052,063 $1,213,918
KAPAA, HI (MICRO) KAUAI $716,033 $851,776 $1,034,868 $1,194,079
KAHULUI-WAILUKU, HI (MICRO) MAUI $716,033 $840,461 $1,021,184 $1,178,289
ID BOISE CITY-NAMPA, ID (MSA) ADA $296,250 $337,168 $407,558 $506,495
NON-METRO BLAINE $477,355 $584,276 $709,868 $819,079
BOISE CITY-NAMPA, ID (MSA) BOISE $296,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) CANYON $296,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) GEM $296,250 $337,168 $407,558 $506,495
COEUR D'ALENE, ID (MSA) KOOTENAI $286,250 $337,168 $407,558 $506,495
BOISE CITY-NAMPA, ID (MSA) OWYHEE $296,250 $337,168 $407,558 $506,495
JACKSON, WY-ID (MICRO) TETON $477,355 $611,117 $738,699 $918,021
NON-METRO VALLEY $416,842 $469,495 $570,461 $658,224
IL ST. LOUIS, MO-IL (MSA) BOND $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) CALHOUN $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) CLINTON $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN COOK $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DEKALB $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN DUPAGE $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN GRUNDY $362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA) JERSEY $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN KANE $362,105 $407,845 $495,512 $571,745
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN KENDALL $362,105 $407,845 $495,512 $571,745
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROP LAKE $362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA) MACOUPIN $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) MADISON $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN MCHENRY $362,105 $407,845 $495,512 $571,745
ST. LOUIS, MO-IL (MSA) MONROE $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. CLAIR $281,250 $337,168 $407,558 $506,495
CHICAGO-NAPERVILLE-JOLIET, IL METROPOLITAN WILL $362,105 $407,845 $495,512 $571,745
IN LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) CLARK $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) DEARBORN $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) FLOYD $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) FRANKLIN $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) HARRISON $281,125 $337,168 $407,558 $506,495
GARY, IN METROPOLITAN DIVISION JASPER $362,105 $407,845 $495,512 $571,745
GARY, IN METROPOLITAN DIVISION LAKE $362,105 $407,845 $495,512 $571,745
GARY, IN METROPOLITAN DIVISION NEWTON $362,105 $407,845 $495,512 $571,745
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) OHIO $332,500 $374,500 $455,000 $525,000
GARY, IN METROPOLITAN DIVISION PORTER $362,105 $407,845 $495,512 $571,745
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) WASHINGTON $281,125 $337,168 $407,558 $506,495
KS KANSAS CITY, MO-KS (MSA) FRANKLIN $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) JOHNSON $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LEAVENWORTH $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LINN $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) MIAMI $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) WYANDOTTE $268,750 $337,168 $407,558 $506,495
KY CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BOONE $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BRACKEN $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) BULLITT $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) CAMPBELL $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) GALLATIN $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) GRANT $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) HENRY $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) JEFFERSON $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) KENTON $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) MEADE $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) NELSON $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) OLDHAM $281,125 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) PENDLETON $332,500 $374,500 $455,000 $525,000
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) SHELBY $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) SPENCER $281,125 $337,168 $407,558 $506,495
LOUISVILLE-JEFFERON COUNTY, KY-IN (MSA) TRIMBLE $281,125 $337,168 $407,558 $506,495
MA BARNSTABLE TOWN, MA (MSA) BARNSTABLE $477,355 $577,237 $701,316 $809,211
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA BRISTOL $416,250 $472,891 $571,567 $710,309
NON-METRO DUKES $477,355 $611,117 $738,699 $918,021
ESSEX COUNTY, MA METROPOLITAN DIVISION ESSEX $477,355 $606,728 $737,146 $850,554
SPRINGFIELD, MA (MSA) FRANKLIN $273,500 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA) HAMPDEN $273,500 $337,168 $407,558 $506,495
SPRINGFIELD, MA (MSA) HAMPSHIRE $273,500 $337,168 $407,558 $506,495
CAMBRIDGE-NEWTON-FRAMINGHAM, MA METROPOLITAN MIDDLESEX $477,355 $606,728 $737,146 $850,554
NON-METRO NANTUCKET $477,355 $611,117 $738,699 $918,021
BOSTON-QUINCY, MA METROPOLITAN DIVISION NORFOLK $477,355 $606,728 $737,146 $850,554
BOSTON-QUINCY, MA METROPOLITAN DIVISION PLYMOUTH $477,355 $606,728 $737,146 $850,554
BOSTON-QUINCY, MA METROPOLITAN DIVISION SUFFOLK $477,355 $606,728 $737,146 $850,554
WORCESTER, MA (MSA) WORCESTER $385,000 $488,975 $591,028 $734,521
MD BALTIMORE-TOWSON, MD (MSA) ANNE ARUNDEL $477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD (MSA) BALTIMORE $477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD (MSA) BALTIMORE CITY $477,355 $537,653 $653,222 $753,718
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN CALVERT $477,355 $611,117 $738,699 $888,158
BALTIMORE-TOWSON, MD (MSA) CARROLL $477,355 $537,653 $653,222 $753,718
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION CECIL $385,112 $433,758 $526,996 $608,072
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN CHARLES $477,355 $611,117 $738,699 $888,158
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN FREDERICK $477,355 $611,117 $738,699 $888,158
NON-METRO GARRETT $437,500 $492,763 $598,684 $690,789
BALTIMORE-TOWSON, MD (MSA) HARFORD $477,355 $537,653 $653,222 $753,718
BALTIMORE-TOWSON, MD (MSA) HOWARD $477,355 $537,653 $653,222 $753,718
NON-METRO KENT $327,089 $368,405 $447,596 $516,457
BETHESDA-GAITHERSBURG-FREDERICK, MD METROPOLITAN MONTGOMERY $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN PRINCE GEORGE'S $477,355 $611,117 $738,699 $888,158
BALTIMORE-TOWSON, MD (MSA) QUEEN ANNE'S $477,355 $537,653 $653,222 $753,718
SALISBURY, MD (MSA) SOMERSET $296,250 $337,168 $407,558 $506,495
LEXINGTON PARK, MD (MICRO) ST. MARY'S $371,053 $417,922 $507,755 $585,872
EASTON, MD (MICRO) TALBOT $371,250 $418,145 $508,026 $599,342
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) WASHINGTON $362,500 $408,289 $496,053 $572,368
SALISBURY, MD (MSA) WICOMICO $296,250 $337,168 $407,558 $506,495
OCEAN PINES, MD (MICRO) WORCESTER $437,499 $492,761 $598,682 $690,787
ME PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) CUMBERLAND $336,875 $379,428 $460,987 $531,908
NON-METRO HANCOCK $272,500 $337,168 $407,558 $506,495
NON-METRO LINCOLN $317,625 $357,746 $434,645 $506,495
PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) SAGADAHOC $336,875 $379,428 $460,987 $531,908
PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME (MSA) YORK $336,875 $379,428 $460,987 $531,908
MI NILES-BENTON HARBOR, MI (MSA) BERRIEN $298,750 $337,168 $408,816 $506,495
KALAMAZOO-PORTAGE, MI (MSA) KALAMAZOO $285,625 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN LAPEER $297,500 $337,168 $407,558 $506,495
ADRIAN, MI (MICRO) LENAWEE $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN LIVINGSTON $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN MACOMB $297,500 $337,168 $407,558 $506,495
MONROE, MI (MSA) MONROE $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN OAKLAND $297,500 $337,168 $407,558 $506,495
WARREN-TROY-FARMINGTON HILLS, MI METROPOLITAN ST. CLAIR $297,500 $337,168 $407,558 $506,495
KALAMAZOO-PORTAGE, MI (MSA) VAN BUREN $285,625 $337,168 $407,558 $506,495
ANN ARBOR, MI (MSA) WASHTENAW $344,875 $388,438 $471,934 $544,539
DETROIT-LIVONIA-DEARBORN, MI METROPOLITAN WAYNE $297,500 $337,168 $407,558 $506,495
MN MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ANOKA $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI CARVER $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI CHISAGO $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI DAKOTA $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI HENNEPIN $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ISANTI $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI RAMSEY $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI SCOTT $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI SHERBURNE $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI WASHINGTON $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI WRIGHT $331,250 $373,092 $453,289 $523,026
MO KANSAS CITY, MO-KS (MSA) BATES $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CALDWELL $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CASS $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CLAY $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) CLINTON $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) CRAWFORD $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) FRANKLIN $281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) JACKSON $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) JEFFERSON $281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) LAFAYETTE $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) LINCOLN $281,250 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) PLATTE $268,750 $337,168 $407,558 $506,495
KANSAS CITY, MO-KS (MSA) RAY $268,750 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. CHARLES $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. LOUIS $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) ST. LOUIS CITY $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) WARREN $281,250 $337,168 $407,558 $506,495
ST. LOUIS, MO-IL (MSA) WASHINGTON $281,250 $337,168 $407,558 $506,495
MT MISSOULA, MT (MSA) MISSOULA $290,625 $337,168 $407,558 $506,495
NC WILMINGTON, NC (MSA) BRUNSWICK $303,125 $341,414 $414,803 $506,495
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA) CURRITUCK $412,500 $464,605 $564,474 $651,316
RALEIGH-CARY, NC (MSA) FRANKLIN $266,875 $337,168 $407,558 $506,495
RALEIGH-CARY, NC (MSA) JOHNSTON $266,875 $337,168 $407,558 $506,495
WILMINGTON, NC (MSA) NEW HANOVER $303,125 $341,414 $414,803 $506,495
JACKSONVILLE, NC (MSA) ONSLOW $306,250 $344,934 $419,079 $506,495
WILMINGTON, NC (MSA) PENDER $303,125 $341,414 $414,803 $506,495
RALEIGH-CARY, NC (MSA) WAKE $266,875 $337,168 $407,558 $506,495
NH MANCHESTER-NASHUA, NH (MSA) HILLSBOROUGH $401,875 $488,975 $591,028 $734,521
CONCORD, NH (MICRO) MERRIMACK $277,500 $337,168 $407,558 $506,495
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH METROPOLITAN ROCKINGHAM $477,355 $606,728 $737,146 $850,554
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH METROPOLITAN STRAFFORD $477,355 $606,728 $737,146 $850,554
NJ ATLANTIC CITY, NJ (MSA) ATLANTIC $425,000 $478,684 $581,579 $671,053
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN BERGEN $477,355 $611,117 $738,699 $918,021
CAMDEN, NJ METROPOLITAN DIVISION BURLINGTON $385,112 $433,758 $526,996 $608,072
CAMDEN, NJ METROPOLITAN DIVISION CAMDEN $385,112 $433,758 $526,996 $608,072
OCEAN CITY, NJ (MSA) CAPE MAY $477,355 $558,934 $679,079 $783,553
VINELAND-MILLVILLE-BRIDGETON, NJ (MSA) CUMBERLAND $405,000 $456,158 $554,211 $639,474
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION ESSEX $477,355 $611,117 $738,699 $918,021
CAMDEN, NJ METROPOLITAN DIVISION GLOUCESTER $385,112 $433,758 $526,996 $608,072
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN HUDSON $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION HUNTERDON $477,355 $611,117 $738,699 $918,021
TRENTON-EWING, NJ (MSA) MERCER $439,550 $495,071 $601,489 $694,026
EDISON, NJ METROPOLITAN DIVISION MIDDLESEX $477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN DIVISION MONMOUTH $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION MORRIS $477,355 $611,117 $738,699 $918,021
EDISON, NJ METROPOLITAN DIVISION OCEAN $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN PASSAIC $477,355 $611,117 $738,699 $918,021
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION SALEM $385,112 $433,758 $526,996 $608,072
EDISON, NJ METROPOLITAN DIVISION SOMERSET $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION SUSSEX $477,355 $611,117 $738,699 $918,021
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION UNION $477,355 $611,117 $738,699 $918,021
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) WARREN $402,192 $459,255 $557,974 $643,816
NM LOS ALAMOS, NM (MICRO) LOS ALAMOS $318,750 $359,013 $436,184 $506,495
FARMINGTON, NM (MSA) SAN JUAN $281,250 $337,168 $407,558 $506,495
SANTA FE, NM (MSA) SANTA FE $381,999 $449,471 $546,086 $630,099
NV CARSON CITY, NV (MSA) CARSON CITY $398,750 $449,118 $545,658 $629,605
LAS VEGAS-PARADISE, NV (MSA) CLARK $400,000 $450,526 $547,368 $631,579
GARDNERVILLE RANCHOS, NV (MICRO) DOUGLAS $477,355 $582,829 $708,158 $817,105
ELKO, NV (MICRO) ELKO $325,000 $366,053 $444,737 $513,158
ELKO, NV (MICRO) EUREKA $325,000 $366,053 $444,737 $513,158
FERNLEY, NV (MICRO) LYON $331,250 $373,092 $453,289 $523,026
PAHRUMP, NV (MICRO) NYE $325,000 $366,053 $444,737 $513,158
RENO-SPARKS, NV (MSA) STOREY $477,355 $537,653 $653,222 $753,718
RENO-SPARKS, NV (MSA) WASHOE $477,355 $537,653 $653,222 $753,718
NY ALBANY-SCHENECTADY-TROY, NY (MSA) ALBANY $300,000 $337,895 $410,526 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO BRONX $477,355 $611,117 $738,699 $918,021
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (MSA) DUTCHESS $443,750 $499,803 $607,237 $700,658
BUFFALO-NIAGARA FALLS, NY (MSA) ERIE $275,075 $337,168 $407,558 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN KINGS $477,355 $611,117 $738,699 $918,021
ROCHESTER, NY (MSA) LIVINGSTON $268,750 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) MADISON $267,500 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) MONROE $268,750 $337,168 $407,558 $506,495
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION NASSAU $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN NEW YORK $477,355 $611,117 $738,699 $918,021
BUFFALO-NIAGARA FALLS, NY (MSA) NIAGARA $275,075 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) ONONDAGA $267,500 $337,168 $407,558 $506,495
ROCHESTER, NY (MSA) ONTARIO $268,750 $337,168 $407,558 $506,495
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (MSA) ORANGE $443,750 $499,803 $607,237 $700,658
ROCHESTER, NY (MSA) ORLEANS $268,750 $337,168 $407,558 $506,495
SYRACUSE, NY (MSA) OSWEGO $267,500 $337,168 $407,558 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO PUTNAM $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO QUEENS $477,355 $611,117 $738,699 $918,021
ALBANY-SCHENECTADY-TROY, NY (MSA) RENSSELAER $300,000 $337,895 $410,526 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO RICHMOND $477,355 $611,117 $738,699 $918,021
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO ROCKLAND $477,355 $611,117 $738,699 $918,021
ALBANY-SCHENECTADY-TROY, NY (MSA) SARATOGA $300,000 $337,895 $410,526 $506,495
ALBANY-SCHENECTADY-TROY, NY (MSA) SCHENECTADY $300,000 $337,895 $410,526 $506,495
ALBANY-SCHENECTADY-TROY, NY (MSA) SCHOHARIE $300,000 $337,895 $410,526 $506,495
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION SUFFOLK $477,355 $611,117 $738,699 $918,021
KINGSTON, NY (MSA) ULSTER $406,250 $457,566 $555,921 $641,447
ROCHESTER, NY (MSA) WAYNE $268,750 $337,168 $407,558 $506,495
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METRO WESTCHESTER $477,355 $611,117 $738,699 $918,021
OH ASHTABULA, OH (MICRO) ASHTABULA $290,797 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BROWN $332,500 $374,500 $455,000 $525,000
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) BUTLER $332,500 $374,500 $455,000 $525,000
CANTON-MASSILLON, OH (MSA) CARROLL $277,500 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) CLERMONT $332,500 $374,500 $455,000 $525,000
CLEVELAND-ELYRIA-MENTOR, OH (MSA) CUYAHOGA $297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) DELAWARE $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) FAIRFIELD $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) FRANKLIN $307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) GEAUGA $297,550 $337,168 $407,558 $506,495
DAYTON, OH (MSA) GREENE $271,250 $337,168 $407,558 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) HAMILTON $332,500 $374,500 $455,000 $525,000
CLEVELAND-ELYRIA-MENTOR, OH (MSA) LAKE $297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) LICKING $307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) LORAIN $297,550 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) MADISON $307,500 $346,342 $420,789 $506,495
CLEVELAND-ELYRIA-MENTOR, OH (MSA) MEDINA $297,550 $337,168 $407,558 $506,495
DAYTON, OH (MSA) MIAMI $271,250 $337,168 $407,558 $506,495
DAYTON, OH (MSA) MONTGOMERY $271,250 $337,168 $407,558 $506,495
COLUMBUS, OH (MSA) MORROW $307,500 $346,342 $420,789 $506,495
COLUMBUS, OH (MSA) PICKAWAY $307,500 $346,342 $420,789 $506,495
AKRON, OH (MSA) PORTAGE $330,000 $371,684 $451,579 $521,053
DAYTON, OH (MSA) PREBLE $271,250 $337,168 $407,558 $506,495
CANTON-MASSILLON, OH (MSA) STARK $277,500 $337,168 $407,558 $506,495
AKRON, OH (MSA) SUMMIT $330,000 $371,684 $451,579 $521,053
COLUMBUS, OH (MSA) UNION $307,500 $346,342 $420,789 $506,495
CINCINNATI-MIDDLETOWN, OH-KY-IN (MSA) WARREN $332,500 $374,500 $455,000 $525,000
OR CORVALLIS, OR (MSA) BENTON $307,500 $346,342 $420,789 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) CLACKAMAS $374,474 $421,776 $512,437 $591,316
ASTORIA, OR (MICRO) CLATSOP $287,500 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) COLUMBIA $374,474 $421,776 $512,437 $591,316
BEND, OR (MSA) DESCHUTES $427,250 $481,218 $584,658 $674,605
MEDFORD, OR (MSA) JACKSON $422,500 $475,868 $578,158 $667,105
GRANTS PASS, OR (MICRO) JOSEPHINE $324,868 $365,904 $444,557 $512,961
EUGENE-SPRINGFIELD, OR (MSA) LANE $331,250 $373,092 $453,289 $523,026
SALEM, OR (MSA) MARION $285,000 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) MULTNOMAH $374,474 $421,776 $512,437 $591,316
SALEM, OR (MSA) POLK $285,000 $337,168 $407,558 $506,495
NON-METRO TILLAMOOK $297,500 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) WASHINGTON $374,474 $421,776 $512,437 $591,316
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) YAMHILL $374,474 $421,776 $512,437 $591,316
PA PITTSBURGH, PA (MSA) ALLEGHENY $327,500 $368,868 $448,158 $517,105
PITTSBURGH, PA (MSA) ARMSTRONG $327,500 $368,868 $448,158 $517,105
PITTSBURGH, PA (MSA) BEAVER $327,500 $368,868 $448,158 $517,105
READING, PA (MSA) BERKS $300,000 $337,895 $410,526 $506,495
PHILADELPHIA, PA METROPOLITAN DIVISION BUCKS $385,112 $433,758 $526,996 $608,072
PITTSBURGH, PA (MSA) BUTLER $327,500 $368,868 $448,158 $517,105
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) CARBON $402,192 $459,255 $557,974 $643,816
STATE COLLEGE, PA (MSA) CENTRE $279,375 $337,168 $407,558 $506,495
PHILADELPHIA, PA METROPOLITAN DIVISION CHESTER $385,112 $433,758 $526,996 $608,072
PHILADELPHIA, PA METROPOLITAN DIVISION DELAWARE $385,112 $433,758 $526,996 $608,072
PITTSBURGH, PA (MSA) FAYETTE $327,500 $368,868 $448,158 $517,105
LANCASTER, PA (MSA) LANCASTER $383,250 $431,661 $524,447 $605,132
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) LEHIGH $402,192 $459,255 $557,974 $643,816
PHILADELPHIA, PA METROPOLITAN DIVISION MONTGOMERY $385,112 $433,758 $526,996 $608,072
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (MSA) NORTHAMPTON $402,192 $459,255 $557,974 $643,816
PHILADELPHIA, PA METROPOLITAN DIVISION PHILADELPHIA $385,112 $433,758 $526,996 $608,072
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION PIKE $477,355 $611,117 $738,699 $918,021
PITTSBURGH, PA (MSA) WASHINGTON $327,500 $368,868 $448,158 $517,105
PITTSBURGH, PA (MSA) WESTMORELAND $327,500 $368,868 $448,158 $517,105
YORK-HANOVER, PA (MSA) YORK $424,587 $478,218 $581,014 $670,401
PR SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) AGUAS BUENAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) AIBONITO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) ARECIBO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) BARCELONETA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) BARRANQUITAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) BAYAMON $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAGUAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAMUY $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CANOVANAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAROLINA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CATANO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CAYEY $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) CEIBA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CIALES $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) CIDRA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) COMERIO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) COROZAL $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) DORADO $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) FAJARDO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) FLORIDA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) GUAYNABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) GURABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) HATILLO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) HUMACAO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) JUNCOS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) LAS PIEDRAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) LOIZA $325,000 $366,053 $444,737 $513,158
FAJARDO, PR (MSA) LUQUILLO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) MANATI $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) MAUNABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) MOROVIS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) NAGUABO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) NARANJITO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) OROCOVIS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) QUEBRADILLAS $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) RIO GRANDE $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) SAN JUAN $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) SAN LORENZO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) TOA ALTA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) TOA BAJA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) TRUJILLO ALTO $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) VEGA ALTA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) VEGA BAJA $325,000 $366,053 $444,737 $513,158
SAN JUAN-CAGUAS-GUAYNABO, PR (MSA) YABUCOA $325,000 $366,053 $444,737 $513,158
RI PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA BRISTOL $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA KENT $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA NEWPORT $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA PROVIDENCE $416,250 $472,891 $571,567 $710,309
PROVIDENCE-NEW BEDFORD-FALL RIVER, RI-MA WASHINGTON $416,250 $472,891 $571,567 $710,309
SC HILTON HEAD ISLAND-BEAUFORT, SC (MICRO) BEAUFORT $373,750 $420,961 $511,447 $590,132
CHARLESTON-NORTH CHARLESTON, SC (MSA) BERKELEY $334,375 $376,612 $457,566 $527,961
CHARLESTON-NORTH CHARLESTON, SC (MSA) CHARLESTON $334,375 $376,612 $457,566 $527,961
CHARLESTON-NORTH CHARLESTON, SC (MSA) DORCHESTER $334,375 $376,612 $457,566 $527,961
HILTON HEAD ISLAND-BEAUFORT, SC (MICRO) JASPER $373,750 $420,961 $511,447 $590,132
TN NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) CANNON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) CHEATHAM $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) DAVIDSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) DICKSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) HICKMAN $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) MACON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) ROBERTSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) RUTHERFORD $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) SMITH $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) SUMNER $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) TROUSDALE $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) WILLIAMSON $297,500 $337,168 $407,558 $506,495
NASHVILLE-DAVIDSON—MURFREESBORO, TN (MSA) WILSON $297,500 $337,168 $407,558 $506,495
UT PROVO-OREM, UT (MSA) JUAB $273,750 $337,168 $407,558 $506,495
NON-METRO KANE $268,750 $337,168 $407,558 $506,495
SALT LAKE CITY, UT (MSA) SALT LAKE $306,250 $344,934 $419,079 $506,495
SALT LAKE CITY, UT (MSA) SUMMIT $306,250 $344,934 $419,079 $506,495
SALT LAKE CITY, UT (MSA) TOOELE $306,250 $344,934 $419,079 $506,495
PROVO-OREM, UT (MSA) UTAH $273,750 $337,168 $407,558 $506,495
ST. GEORGE, UT (MSA) WASHINGTON $366,875 $413,217 $502,039 $579,276
VA CHARLOTTESVILLE, VA (MSA) ALBEMARLE $399,375 $449,822 $546,513 $630,592
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN ALEXANDRIA $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) AMELIA $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN ARLINGTON $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) CAROLINE $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) CHARLES CITY $344,375 $387,875 $471,250 $543,750
CHARLOTTESVILLE, VA (MSA) CHARLOTTESVILLE $399,375 $449,822 $546,513 $630,592
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN CHESAPEAKE $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) CHESTERFIELD $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN CLARKE $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) COLONIAL HEIGHT $344,375 $387,875 $471,250 $543,750
CULPEPER, VA (MICRO) CULPEPER $381,999 $448,442 $544,837 $628,658
RICHMOND, VA (MSA) CUMBERLAND $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) DINWIDDIE $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FAIRFAX $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FAIRFAX IND $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FALLS CHURCH $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FAUQUIER $477,355 $611,117 $738,699 $888,158
CHARLOTTESVILLE, VA (MSA) FLUVANNA $399,375 $449,822 $546,513 $630,592
WINCHESTER, VA-WV (MSA) FREDERICK $475,000 $535,000 $650,000 $750,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN FREDERICKSBURG $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN GLOUCESTER $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) GOOCHLAND $344,375 $387,875 $471,250 $543,750
CHARLOTTESVILLE, VA (MSA) GREENE $399,375 $449,822 $546,513 $630,592
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN HAMPTON $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) HANOVER $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) HENRICO $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) HOPEWELL $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN ISLE OF WIGHT $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN JAMES CITY $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) KING AND QUEEN $344,375 $387,875 $471,250 $543,750
NON-METRO KING GEORGE $381,999 $448,442 $544,837 $628,658
RICHMOND, VA (MSA) KING WILLIAM $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN LOUDOUN $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) LOUISA $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN MANASSAS $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN MANASSAS PARK $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN MATHEWS $412,500 $464,605 $564,474 $651,316
CHARLOTTESVILLE, VA (MSA) NELSON $399,375 $449,822 $546,513 $630,592
RICHMOND, VA (MSA) NEW KENT $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN NEWPORT NEWS $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN NORFOLK $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) PETERSBURG $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN POQUOSON $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN PORTSMOUTH $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) POWHATAN $344,375 $387,875 $471,250 $543,750
RICHMOND, VA (MSA) PRINCE GEORGE $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN PRINCE WILLIAM $477,355 $611,117 $738,699 $888,158
RICHMOND, VA (MSA) RICHMOND IND $344,375 $387,875 $471,250 $543,750
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN SPOTSYLVANIA $477,355 $611,117 $738,699 $888,158
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN STAFFORD $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN SUFFOLK $412,500 $464,605 $564,474 $651,316
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN SURRY $412,500 $464,605 $564,474 $651,316
RICHMOND, VA (MSA) SUSSEX $344,375 $387,875 $471,250 $543,750
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN VIRGINIA BEACH $412,500 $464,605 $564,474 $651,316
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-METROPOLITAN WARREN $477,355 $611,117 $738,699 $888,158
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN WILLIAMSBURG $412,500 $464,605 $564,474 $651,316
WINCHESTER, VA-WV (MSA) WINCHESTER $475,000 $535,000 $650,000 $750,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-METROPOLITAN YORK $412,500 $464,605 $564,474 $651,316
VI NON-METRO ST. CROIX $287,500 $337,168 $407,558 $506,495
NON-METRO ST. THOMAS $318,750 $359,013 $436,184 $506,495
VT BURLINGTON-SOUTH BURLINGTON, VT (MSA) CHITTENDEN $318,750 $359,013 $436,184 $506,495
BURLINGTON-SOUTH BURLINGTON, VT (MSA) FRANKLIN $318,750 $359,013 $436,184 $506,495
BURLINGTON-SOUTH BURLINGTON, VT (MSA) GRAND ISLE $318,750 $359,013 $436,184 $506,495
WA WENATCHEE, WA (MSA) CHELAN $281,250 $337,168 $407,558 $506,495
PORT ANGELES, WA (MICRO) CLALLAM $296,250 $337,168 $407,558 $506,495
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) CLARK $374,474 $421,776 $512,437 $591,316
WENATCHEE, WA (MSA) DOUGLAS $281,250 $337,168 $407,558 $506,495
OAK HARBOR, WA (MICRO) ISLAND $366,842 $413,179 $502,039 $579,276
NON-METRO JEFFERSON $420,000 $473,053 $574,737 $663,158
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN KING $477,355 $542,039 $658,553 $759,868
BREMERTON-SILVERDALE, WA (MSA) KITSAP $475,000 $535,000 $650,000 $750,000
TACOMA, WA METROPOLITAN DIVISION PIERCE $477,355 $542,039 $658,553 $759,868
NON-METRO SAN JUAN $477,355 $598,355 $726,974 $838,816
MOUNT VERNON-ANACORTES, WA (MSA) SKAGIT $373,662 $420,862 $511,328 $589,993
PORTLAND-VANCOUVER-BEAVERTON, OR-WA (MSA) SKAMANIA $374,474 $421,776 $512,437 $591,316
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN SNOHOMISH $477,355 $542,039 $658,553 $759,868
OLYMPIA, WA (MSA) THURSTON $344,505 $388,022 $471,429 $543,957
BELLINGHAM, WA (MSA) WHATCOM $375,000 $422,368 $513,158 $592,105
WI MADISON, WI (MSA) COLUMBIA $284,625 $337,168 $407,558 $506,495
MADISON, WI (MSA) DANE $284,625 $337,168 $407,558 $506,495
MADISON, WI (MSA) IOWA $284,625 $337,168 $407,558 $506,495
LAKE COUNTY-KENOSHA COUNTY, IL-WI METROPOLITAN KENOSHA $362,105 $407,845 $495,512 $571,745
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) MILWAUKEE $287,375 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) OZAUKEE $287,375 $337,168 $407,558 $506,495
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI PIERCE $331,250 $373,092 $453,289 $523,026
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ST. CROIX $331,250 $373,092 $453,289 $523,026
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) WASHINGTON $287,375 $337,168 $407,558 $506,495
MILWAUKEE-WAUKESHA-WEST ALLIS, WI (MSA) WAUKESHA $287,375 $337,168 $407,558 $506,495
WV HAGERSTOWN-MARTINSBURG, MD-WV (MSA) BERKELEY $362,500 $408,289 $496,053 $572,368
WINCHESTER, VA-WV (MSA) HAMPSHIRE $475,000 $535,000 $650,000 $750,000
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) JEFFERSON $477,355 $611,117 $738,699 $888,158
HAGERSTOWN-MARTINSBURG, MD-WV (MSA) MORGAN $362,500 $408,289 $496,053 $572,368
WY JACKSON, WY-ID (MICRO) TETON $477,355 $611,117 $738,699 $918,021
ALL OTHER AREAS $263,368 $337,168 $407,558 $506,495
.02 The nationwide average purchase price (for use in the housing cost/income ratio for new and existing residences) is $269,600.
SECTION 5. EFFECT ON OTHER DOCUMENTS
Rev. Proc. 2006-17 is obsolete except as provided in section 6 of this revenue procedure.
SECTION 6. EFFECTIVE DATES
.01 Issuers may rely on this revenue procedure to determine average area purchase price safe harbors for commitments to provide financing or issue mortgage credit certificates that are made, or (if the purchase precedes the commitment) for residences that are purchased, in the period that begins on March 8, 2007, and ends on the date as of which the safe harbors contained in section 4.01 of this revenue procedure are rendered obsolete by a new revenue procedure.
.02 Notwithstanding section 5 of this revenue procedure, issuers may continue to rely on the average area purchase price safe harbors contained in Rev. Proc. 2006-17, with respect to bonds sold, or for mortgage credit certificates issued with respect to bond authority exchanged, before April 7, 2007, if the commitments to provide financing or issue mortgage credit certificates are made on or before May 7, 2007.
.03 Except as provided in section 6.04, issuers must use the nationwide average purchase price limitation contained in this revenue procedure for commitments to provide financing or issue mortgage credit certificates that are made, or (if the purchase precedes the commitment) for residences that are purchased, in the period that begins on March 8, 2007, and ends on the date when the nationwide average purchase price limitation is rendered obsolete by a new revenue procedure.
.04 Notwithstanding sections 5 and 6.03 of this revenue procedure, issuers may continue to rely on the nationwide average purchase price set forth in Rev. Proc. 2006-17 with respect to bonds sold, or for mortgage credit certificates issued with respect to bond authority exchanged, before April 7, 2007, if the commitments to provide financing or issue mortgage credit certificates are made on or before May 7, 2007.
SECTION 7. PAPERWORK REDUCTION ACT
The collection of information contained in this revenue procedure has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act (44 U.S.C. 3507) under control number 1545-1877.
An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number.
This revenue procedure contains a collection of information requirement in section 3.03. The purpose of the collection of information is to verify the applicable FHA loan limit that issuers of qualified mortgage bonds and qualified mortgage certificates have used to calculate the average area purchase price for a given metropolitan statistical area for purposes of section 143(e) and 25(c). The collection of information is required to obtain the benefit of using revisions to FHA loan limits to determine average area purchase prices. The likely respondents are state and local governments.
The estimated total annual reporting and/or recordkeeping burden is: 15 hours.
The estimated annual burden per respondent and/or recordkeeper: 15 minutes.
The estimated number of respondents and/or recordkeepers: 60.
Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.
The principal authors of this revenue procedure are David E. White and Timothy L. Jones of the Office of Division Counsel/Associate Chief Counsel (Tax Exempt & Government Entities). For further information regarding this revenue procedure, contact David E. White at (202) 622-3980 (not a toll-free call).
Notice of Proposed Rulemaking by Cross-Reference to Temporary Regulations Corporate Reorganizations; Additional Guidance on Distributions Under Sections 368(a)(1)(D) and 354(b)(1)(B)
Notice of proposed rulemaking by cross-reference to temporary regulations.
In this issue of the Bulletin, the IRS is issuing temporary regulations (T.D. 9313) that amend §1.368-2T(l), which provides guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction. These regulations clarify that the rules in §1.368-2T(l) are not intended to affect the qualification of related party triangular asset acquisitions as reorganizations described in section 368. These regulations affect corporations engaging in such transactions and their shareholders. The text of those regulations also serves as the text of these proposed regulations.
Written or electronic comments and requests for a public hearing must be received by May 30, 2007.
Send submissions to: CC:PA:LPD:PR (REG-157834-06), Internal Revenue Service, PO Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand delivered to CC:PA:LPD:PR (REG-157834-06), Courier Desk, Internal Revenue Service, 1111 Constitution Avenue, NW, Washington, DC, or sent electronically, via the IRS Internet site at www.irs.gov/regs or via the Federal eRulemaking Portal at www.regulations.gov (IRS REG-157834-06).
Concerning the proposed regulations, Bruce A. Decker, (202) 622-7550; concerning submission of comments, requests for a public hearing, and/or a publication and regulations specialist, Kelly Banks, (202) 622-7180.
Temporary regulations in this issue of the Bulletin amend 26 CFR part 1. The temporary regulations amend §1.368-2T(l), which provides guidance regarding the qualification of certain transactions as reorganizations described in section 368(a)(1)(D) where no stock and/or securities of the acquiring corporation are issued and distributed in the transaction. The text of those regulations also serves as the text of these proposed regulations. The preamble to the temporary regulations explains the amendments.
These regulations clarify that the rules in §1.368-2T(l) are not intended to affect the qualification of related party triangular asset acquisitions as reorganizations described in section 368.
It has been determined that this notice of proposed rulemaking is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to these regulations, and because the regulations do not impose a collection of information on small entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply. Pursuant to section 7805(f) of the Internal Revenue Code, this notice of proposed rulemaking will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business.
Before these proposed regulations are adopted as final regulations, consideration will be given to any written (a signed original and eight (8) copies) or electronic comments that are submitted timely to the IRS. The IRS and Treasury Department request comments on the clarity of the proposed rules and how they can be made easier to understand. All comments will be available for public inspection and copying. A public hearing will be scheduled if requested in writing by any person that timely submits written comments. If a public hearing is scheduled, notice of the date, time, and place for the public hearing will be published in the Federal Register.
Accordingly, 26 CFR part 1 is proposed to be amended as follows:
Par. 2. Section 1.368-2 is amended by adding paragraph (l)(2)(iv) to read as follows:
§1.368-2 Definition of terms.
[The text of this proposed amendment to §1.368-2(l)(2)(iv) is the same as the text of §1.368-2T(l)(2)(iv) published elsewhere in this issue of the Bulletin.
The principal author of these regulations is Bruce A. Decker, Office of Associate Chief Counsel (Corporate).
Foundations Status of Certain Organizations
The following organizations have failed to establish or have been unable to maintain their status as public charities or as operating foundations. Accordingly, grantors and contributors may not, after this date, rely on previous rulings or designations in the Cumulative List of Organizations (Publication 78), or on the presumption arising from the filing of notices under section 508(b) of the Code. This listing does not indicate that the organizations have lost their status as organizations described in section 501(c)(3), eligible to receive deductible contributions.
Former Public Charities. The following organizations (which have been treated as organizations that are not private foundations described in section 509(a) of the Code) are now classified as private foundations:
Org. Name
7 Cord Ministries, Waco TX
Abundant Life Family Services, Inc., Los Angeles CA
Acting Out Foundation, Beachwood OH
Ada A. Grant, Inc., Chicago IL
Adelante Now Foundation, Albuquerque NM
Agape Mission and Community Service Group, Inc., Birmingham AL
Alta-Pasa Debutante Association, Fontana CA
Amateur Division of the International Log Rolling Association, Onalaska WI
American Academy of Continuing Medical Education, Inc., Skillman NJ
Animal Lovers for Infinity, Inc., Boston MA
Anishinabe Miikana Project, Inc., Red Lake MN
Association of Iu Mien, San Jose CA
Better World Services, Inc., Centreville VA
B.G.B.B. Foundation, Inc. (bridging Gaps and Breaking Barriers), Nashville TN
Bible Mission, La Quinta CA
Biobehavioral Institute of Boston, Inc., Boston MA
Black Hills Coalition of Standing Rock Enrollees, Rapid City SD
Burningbush Pastoral Care Services, Inc., Plano TX
Center for Community Stabilization, Rogers AR
Changing Directions, Far Hills NJ
Chesapeake Institutes for Behavioral Research, Glenn Allen VA
Chuckie Goodnight Foundation, Inc., Brewster KY
Civil War Landscapes Association, Chicago IL
Claudine Carew Scholarship Fund, Williamsburg VA
Community Education Network, Inc., Bethesda MD
Computers for Kids, Inc., Bloomington MN
Concerned Black Men of Cape Cod & The Islands, Inc., Provincetown MA
Cooper Foundation, Elm City NC
Counseling Ministries International, Inc., Ada OK
Cross Atlantic Foundation, Inc., Lynbrook NY
Dedicated Helper, Inglewood CA
Divine Destiny, Inc., Chesapeake VA
Dry Branch Community Life Center, Inc., Dry Branch GA
Dunbar Township Science Center, Leisenring PA
Education Sports Plus Foundation, Inc., Newton NJ
Educational Opportunities, Inc., Chicago IL
Family and Youth Achievement Center, Durham NC
FATA Foundation, Coral Springs FL
For This Cause, Oceano CA
Fort Wayne Music Fest, Inc., Fort Wayne IN
Foundation in Memory of Suel, Walnut CA
Friends of Rain Forests in Myannar, Aberdeen MD
Front Forty Productions, Inc., Verona WI
Full Gospel Ministries, Ltd., Joshua Tree CA
Genesis Protected Animal Refuge, Inc., Pikesville MD
Georgia Motorcyclists Association, Inc., Atlanta GA
Gloary, Inc., Delray Beach FL
Global Information Freedom, Inc., Cary NC
Global Vision Alliance, Orinda CA
Good Shepherd International Miracle Center, Inc., Virginia Beach VA
Greater Hope Community Development, Houston TX
Greater Rome Chamber of Commerce Foundation, Rome GA
Helen E. Popa Masters in Nursing Loan Fund, Austintown OH
Hellenic American Education Foundation, Inc., Bayside NY
Holographic Ecology, Inc., Santa Barbara CA
IGBO Union of St. Louis, Inc., St. Louis MO
Incredible Dreams Childcare and Learning Center, Incorporated, Chicago IL
Indo-American Social Service Partners, Brooklyn NY
Inspiration Community Service Center, Solon OH
Institute of Modern Test Theory, Chicago IL
Intercare Housing, Inc., Indianapolis IN
Interfaith Partnership for Advocacy Reconciliation, Winston-Salem NC
International Terrorism Awareness Coalition, Highstown NJ
Joe Stephens Foundation, Houston TX
Kidron Brook Ministries, Inc., Kernersville NC
Kollel Ari Yerucham, New York NY
Lakeland Cardinals Booster Club, Fox Lake IL
Latino Cultural Center of Napa Valley, Napa CA
Lincoln Park Youth in Touch, Incorporated, Hampton VA
Mahoning Valley Renaissance Institute, Mineral Ridge OH
Manjui Foundation, Inc., Baltimore MD
Masjidullah Economic Community Corporation of America (M.E.C.C.A.), Philadelphia PA
Mending Hoop Ranch & Reserve, Peebles OH
Mental Health Alliance, Inc., Louisville KY
Minor League Players Institute, Chicago IL
Mirabal Sister Culture and Community Center, Inc., New York NY
Montana Wildlife Recovery, Inc., Bozeman MT
Museo Eduardo Carillo, Santa Cruz CA
Natomas Education Foundation, Sacramento CA
NBBJ Training Academy, Inc., Columbus OH
Nerih, Inc., Aliquippa PA
Night Hawk Foundation, Greenville MS
Nursing Assistance Home Care Serv, Inc., Randallstown MD
Passport for Godly Ling, Inc., Sante Fe TX
Piscataway Township Education Foundation, Piscataway NJ
Pizza Family Ministries, Deltona FL
Pneuma Ministries Community Development, Inc., Meridianville AL
Polish American Leadership Initiative, Chicago IL
Positive Strokes, Inc., Norman OK
Quest Ministries International, Hervey LA
Restore Hope, Inc., Bronson MI
Ronald J. Weiss Memorial Foundation, Lagrangeville NY
Self-Sufficient Families, Los Angeles CA
Share the Love Center, Simi Valley CA
Solutions Benefiting Life Institute, Ltd., Sudbury MA
Sound Touches, Jefferson GA
Southern California Indian Health Coalition, Inc., Banning CA
Talamm, Inc., Silver Spring MD
Thomasville Boxing Association, Thomasville GA
Tower Educational Consulting Group, Inc., Elyria OH
Triune Project, Inc., Newport Beach CA
Turning Point for Women and Children, Goldsboro NC
Underwater Learning Institute, Ltd., Baltimore MD
US Chamber Foundation for Legal Reform, Washington DC
Victory Community Development, Inc., Bessemer AL
Willoughby Hills Lions Club Scholarship Fund, Willoughby Hills OH
Wolf Point Development Corporation, Wolf Point MT
Women of Vision, Redondo Beach CA
If an organization listed above submits information that warrants the renewal of its classification as a public charity or as a private operating foundation, the Internal Revenue Service will issue a ruling or determination letter with the revised classification as to foundation status. Grantors and contributors may thereafter rely upon such ruling or determination letter as provided in section 1.509(a)-7 of the Income Tax Regulations. It is not the practice of the Service to announce such revised classification of foundation status in the Internal Revenue Bulletin.
Deletions From Cumulative List of Organizations Contributions to Which are Deductible Under Section 170 of the Code
The names of organizations that no longer qualify as organizations described in section 170(c)(2) of the Internal Revenue Code of 1986 are listed below.
Generally, the Service will not disallow deductions for contributions made to a listed organization on or before the date of announcement in the Internal Revenue Bulletin that an organization no longer qualifies. However, the Service is not precluded from disallowing a deduction for any contributions made after an organization ceases to qualify under section 170(c)(2) if the organization has not timely filed a suit for declaratory judgment under section 7428 and if the contributor (1) had knowledge of the revocation of the ruling or determination letter, (2) was aware that such revocation was imminent, or (3) was in part responsible for or was aware of the activities or omissions of the organization that brought about this revocation.
If on the other hand a suit for declaratory judgment has been timely filed, contributions from individuals and organizations described in section 170(c)(2) that are otherwise allowable will continue to be deductible. Protection under section 7428(c) would begin on March 26, 2007, and would end on the date the court first determines that the organization is not described in section 170(c)(2) as more particularly set forth in section 7428(c)(1). For individual contributors, the maximum deduction protected is $1,000, with a husband and wife treated as one contributor. This benefit is not extended to any individual, in whole or in part, for the acts or omissions of the organization that were the basis for revocation.
American Education Foundation International San Francisco CA
Ladder 12 Firefighters Fund, Inc. New York NY
157834-06 2007-13 I.R.B. 2007-13
Tax Conventions
9313 2007-13 I.R.B. 2007-13
2002-45 Modified by Notice 2007-22 2007-10 I.R.B. 2007-10 670
2005-29 Modified and superseded by Notice 2007-4 2007-2 I.R.B. 2007-2 260
2006-2 Modified and superseded by Notice 2007-4 2007-2 I.R.B. 2007-2 260
2006-50 Amplified, clarified, and modified by Notice 2007-11 2007-5 I.R.B. 2007-5 405
208270-86 Corrected by Ann. 2007-4 2007-7 I.R.B. 2007-7 518
121509-00 Corrected by Ann. 2007-17 2007-8 I.R.B. 2007-8 597
125632-06 Corrected by Ann. 2007-26 2007-10 I.R.B. 2007-10 682
136806-06 Hearing cancelled by Ann. 2007-19 2007-7 I.R.B. 2007-7 521
98-20 Superseded by Rev. Proc. 2007-12 2007-4 I.R.B. 2007-4 354
2000-38 Modified by Rev. Proc. 2007-16 2007-4 I.R.B. 2007-4 358
2001-42 Modified and amplified by Rev. Proc. 2007-19 2007-7 I.R.B. 2007-7 515
2002-9 Modified and amplified by Rev. Proc. 2007-14 2007-4 I.R.B. 2007-4 357
2002-9 Modified by Rev. Proc. 2007-16 2007-4 I.R.B. 2007-4 358
2004-11 Superseded by Rev. Proc. 2007-16 2007-4 I.R.B. 2007-4 358
2004-65 Modified and superseded by Rev. Proc. 2007-20 2007-7 I.R.B. 2007-7 517
2005-51 Amplified by Rev. Proc. 2007-25 2007-12 I.R.B. 2007-12 761
2006-17 Obsoleted in part by Rev. Proc. 2007-26 2007-13 I.R.B. 2007-13
54-19 Obsoleted in part by Rev. Rul. 2007-14 2007-12 I.R.B. 2007-12 747
55-132 Obsoleted by Rev. Rul. 2007-14 2007-12 I.R.B. 2007-12 747
69-141 Modified by Notice 2007-22 2007-10 I.R.B. 2007-10 670
69-587 Revoked by Rev. Rul. 2007-12 2007-11 I.R.B. 2007-11 685
75-161 Obsoleted by Rev. Rul. 2007-8 2007-7 I.R.B. 2007-7 469
78-330 Modified by Rev. Rul. 2007-8 2007-7 I.R.B. 2007-7 469
81-225 Clarified and amplified by Rev. Rul. 2007-7 2007-7 I.R.B. 2007-7 468
92-19 Supplemented in part by Rev. Rul. 2007-10 2007-10 I.R.B. 2007-10 660
96-51 Amplified by Rev. Rul. 2007-12 2007-11 I.R.B. 2007-11 685
2003-92 Clarified and amplified by Rev. Rul. 2007-7 2007-7 I.R.B. 2007-7 468
2003-102 Modified by Notice 2007-22 2007-10 I.R.B. 2007-10 670
9263 Corrected by Ann. 2007-22 2007-9 I.R.B. 2007-9 631
9298 Corrected by Ann. 2007-32 2007-11 I.R.B. 2007-11 734
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