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Njhmfa low income tax credit tenant income self certification - njhousing 2026
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- Click ‘Get Form’ to open it in the editor.
- Begin by filling out Part I: Development Data. Enter the property name, address, county, unit number, BIN number, and the number of bedrooms.
- Proceed to Part II: Household Composition. List each household member's last name, first name and middle initial, relationship to the head of household, date of birth, full-time student status (Y or N), and social security or alien registration number.
- Calculate the total annual household income and enter it in the designated field. Include all income from assets.
- Fill in the tenant-paid rent and utility allowance amounts. Then calculate and enter the gross rent for the unit.
- Indicate whether all occupants are full-time students. If yes, circle the applicable exception and attach documentation as required.
- Finally, ensure all household members sign and date the certification section to validate your information.
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What is a tax credit community?
A tax credit property is a residential development owned by a developer or landlord involved in the federal Low-Income Housing Tax Credit (LIHTC) program. This initiative allows property owners to receive tax credits in exchange for offering rental units to low-income individuals or families at below-market rates.
What is a tenant income certification?
Tenant Income Certification (TIC) is a critical process in affordable housing programs, ensuring that the tenants who benefit from these programs meet the specific income requirements set forth by the governing authorities.
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