US · guidance
Rev. Proc. 2025-18, 2025-19 I.R.B. 1430
SECTION 1. PURPOSE
This revenue procedure provides issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue Code1, and issuers of mortgage credit certificates, as defined in § 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.
SECTION 2. BACKGROUND
.01 Section 103(a) provides that, except as provided in § 103(b), gross income does not include interest on any State or local bond. Section 103(b)(1) provides that § 103(a) shall not apply to any private activity bond that is not a “qualified bond” within the meaning of § 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 § 143, (2) meets the volume cap requirements under § 146, and (3) meets the applicable requirements under § 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 § 143; (iii) the issue does not meet the private business tests of paragraphs (1) and (2) of § 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 § 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 § 143(j)), § 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 §§ 143(e)(3) and (4), respectively, separate determinations of average area purchase price are to be made for new and existing residences, and for two-, three-, and four-family residences.
.05 Section 143(e)(2) also provides that the determination of the average area purchase price 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, § 143(k)(2)(D) provides that the Secretary may designate an area that is the equivalent of a county. Section 6a.103A-1(b)(4)(i) (issued under § 103A of the Internal Revenue Code of 1954, the predecessor of § 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 (Treasury Department) 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 thereof 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 § 146, and in its 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 § 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, § 25(c)(2)(A)(iii)(IV) provides that holders of mortgage credit certificates must meet the income requirement of § 143(f). Generally, under §§ 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 § 143(f)(5)(C) as any statistical area for which the housing cost/income ratio is greater than 1.2.
.10 Under § 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. 2024-21, 2024-19 I.R.B. 1054.
.12 The nationwide average purchase price was last published in section 4.02 of Rev. Proc. 2024-21. Guidance with respect to the United States and area median gross income figures that are used in computing the housing cost/income ratio described in § 143(f)(5) was published in Rev. Proc. 2021-19, 2021-15 I.R.B. 1008.
.13 This revenue procedure uses Federal Housing Administration (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.
.15 The average area purchase price safe harbors listed in section 4.01 of this revenue procedure are based on FHA loan limits released November 26, 2024. 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 November 26, 2024.
.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 MSAs. The OMB bulletin no longer includes primary MSAs.
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 §§ 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.
.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 November 26, 2024, 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 0.867.
.04 If, pursuant to § 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. 23-01, 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 §§ 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 § 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 § 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. 2024-21, the issuer must use the nationwide average purchase price set forth in section 4.02 of Rev. Proc. 2024-21 in computing the housing cost/income ratio under § 143(f)(5). Likewise, if, pursuant to section 6.04 of this revenue procedure, an issuer relies on the nationwide average purchase price published in Rev. Proc. 2024-21, the issuer must use the average area purchase price safe harbors set forth in section 4.01 of Rev. Proc. 2024-21 in computing the housing cost/income ratio under § 143(f)(5).
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.
2025 Average Area Purchase Prices for Mortgage Revenue Bonds
County Name
State
One-Unit Limit
Two-Unit Limit
Three-Unit Limit
Four-Unit Limit
ALEUTIANS WEST
AK
675,212
864,389
1,044,857
1,298,515
HOONAH-ANGOON C
AK
604,905
774,357
936,022
1,163,265
JUNEAU CITY AND
AK
638,068
816,864
987,354
1,227,055
KODIAK ISLAND B
AK
624,803
799,849
966,821
1,201,562
SITKA CITY AND
AK
676,538
866,061
1,046,875
1,301,053
SKAGWAY MUNICIP
AK
604,905
774,357
936,022
1,163,265
COCONINO
AZ
650,007
832,148
1,005,868
1,250,010
MARICOPA
AZ
630,109
806,655
975,069
1,211,771
PINAL
AZ
630,109
806,655
975,069
1,211,771
ALAMEDA
CA
1,395,468
1,786,771
2,159,645
2,684,092
CONTRA COSTA
CA
1,395,468
1,786,771
2,159,645
2,684,092
EL DORADO
CA
880,826
1,127,622
1,363,055
1,693,941
LOS ANGELES
CA
1,395,468
1,786,771
2,159,645
2,684,092
MARIN
CA
1,395,468
1,786,771
2,159,645
2,684,092
MENDOCINO
CA
630,109
806,655
975,069
1,211,771
MONO
CA
895,418
1,146,309
1,385,606
1,721,972
MONTEREY
CA
1,119,605
1,433,304
1,732,526
2,153,157
NAPA
CA
1,173,993
1,502,919
1,816,675
2,257,723
NEVADA
CA
742,866
951,018
1,149,538
1,428,632
ORANGE
CA
1,395,468
1,786,771
2,159,645
2,684,092
PLACER
CA
880,826
1,127,622
1,363,055
1,693,941
RIVERSIDE
CA
776,029
993,467
1,200,870
1,492,364
SACRAMENTO
CA
880,826
1,127,622
1,363,055
1,693,941
SAN BENITO
CA
1,395,468
1,786,771
2,159,645
2,684,092
SAN BERNARDINO
CA
776,029
993,467
1,200,870
1,492,364
SAN DIEGO
CA
1,242,973
1,591,220
1,923,434
2,390,378
SAN FRANCISCO
CA
1,395,468
1,786,771
2,159,645
2,684,092
SAN JOAQUIN
CA
782,662
1,001,946
1,211,136
1,505,168
SAN LUIS OBISPO
CA
1,115,625
1,428,228
1,726,355
2,145,486
SAN MATEO
CA
1,395,468
1,786,771
2,159,645
2,684,092
SANTA BARBARA
CA
1,053,277
1,348,405
1,629,921
2,025,578
SANTA CLARA
CA
1,395,468
1,786,771
2,159,645
2,684,092
SANTA CRUZ
CA
1,395,468
1,786,771
2,159,645
2,684,092
SOLANO
CA
790,621
1,012,154
1,223,421
1,520,452
SONOMA
CA
1,034,706
1,324,642
1,601,141
1,989,876
STANISLAUS
CA
618,170
791,371
956,555
1,188,816
VENTURA
CA
1,173,993
1,502,919
1,816,675
2,257,723
YOLO
CA
880,826
1,127,622
1,363,055
1,693,941
ADAMS
CO
961,746
1,231,207
1,488,269
1,849,551
ARAPAHOE
CO
961,746
1,231,207
1,488,269
1,849,551
BOULDER
CO
994,909
1,273,657
1,539,600
1,913,340
BROOMFIELD
CO
961,746
1,231,207
1,488,269
1,849,551
CHAFFEE
CO
769,396
984,989
1,190,604
1,479,618
CLEAR CREEK
CO
961,746
1,231,207
1,488,269
1,849,551
DENVER
CO
961,746
1,231,207
1,488,269
1,849,551
DOUGLAS
CO
961,746
1,231,207
1,488,269
1,849,551
EAGLE
CO
1,395,468
1,786,771
2,159,645
2,684,092
EL PASO
CO
615,517
787,968
952,460
1,183,682
ELBERT
CO
961,746
1,231,207
1,488,269
1,849,551
GARFIELD
CO
1,395,468
1,786,771
2,159,645
2,684,092
GILPIN
CO
961,746
1,231,207
1,488,269
1,849,551
GRAND
CO
1,008,175
1,290,671
1,560,075
1,938,833
GUNNISON
CO
862,255
1,103,859
1,334,274
1,658,182
JEFFERSON
CO
961,746
1,231,207
1,488,269
1,849,551
LA PLATA
CO
795,927
1,018,902
1,231,669
1,530,661
LARIMER
CO
729,600
934,004
1,129,006
1,403,082
MONTROSE
CO
866,234
1,108,935
1,340,446
1,665,853
OURAY
CO
866,234
1,108,935
1,340,446
1,665,853
PARK
CO
961,746
1,231,207
1,488,269
1,849,551
PITKIN
CO
1,395,468
1,786,771
2,159,645
2,684,092
ROUTT
CO
1,167,360
1,494,440
1,806,467
2,244,977
SAN MIGUEL
CO
1,205,830
1,543,695
1,865,988
2,318,975
SUMMIT
CO
1,231,034
1,575,936
1,904,977
2,367,423
TELLER
CO
615,517
787,968
952,460
1,183,682
WELD
CO
650,007
832,148
1,005,868
1,250,010
FAIRFIELD
CT
981,644
1,256,700
1,519,068
1,887,790
DISTRICT OF COL
DC
1,395,468
1,786,771
2,159,645
2,684,092
NEW CASTLE
DE
685,824
878,000
1,061,294
1,318,932
BAKER
FL
669,906
857,583
1,036,667
1,288,307
BROWARD
FL
754,804
966,302
1,167,995
1,451,587
CLAY
FL
669,906
857,583
1,036,667
1,288,307
COLLIER
FL
882,153
1,129,294
1,365,073
1,696,479
DUVAL
FL
669,906
857,583
1,036,667
1,288,307
MANATEE
FL
631,436
808,328
977,087
1,214,308
MARTIN
FL
688,477
881,345
1,065,389
1,324,008
MIAMI-DADE
FL
754,804
966,302
1,167,995
1,451,587
MONROE
FL
1,115,625
1,428,228
1,726,355
2,145,486
NASSAU
FL
669,906
857,583
1,036,667
1,288,307
OKALOOSA
FL
696,436
891,554
1,077,674
1,339,292
PALM BEACH
FL
754,804
966,302
1,167,995
1,451,587
SARASOTA
FL
631,436
808,328
977,087
1,214,308
ST. JOHNS
FL
669,906
857,583
1,036,667
1,288,307
ST. LUCIE
FL
688,477
881,345
1,065,389
1,324,008
WALTON
FL
696,436
891,554
1,077,674
1,339,292
BARROW
GA
794,601
1,017,230
1,229,593
1,528,123
BARTOW
GA
794,601
1,017,230
1,229,593
1,528,123
BUTTS
GA
794,601
1,017,230
1,229,593
1,528,123
CARROLL
GA
794,601
1,017,230
1,229,593
1,528,123
CHEROKEE
GA
794,601
1,017,230
1,229,593
1,528,123
CLARKE
GA
696,436
891,554
1,077,674
1,339,292
CLAYTON
GA
794,601
1,017,230
1,229,593
1,528,123
COBB
GA
794,601
1,017,230
1,229,593
1,528,123
COWETA
GA
794,601
1,017,230
1,229,593
1,528,123
DAWSON
GA
794,601
1,017,230
1,229,593
1,528,123
DEKALB
GA
794,601
1,017,230
1,229,593
1,528,123
DOUGLAS
GA
794,601
1,017,230
1,229,593
1,528,123
FAYETTE
GA
794,601
1,017,230
1,229,593
1,528,123
FORSYTH
GA
794,601
1,017,230
1,229,593
1,528,123
FULTON
GA
794,601
1,017,230
1,229,593
1,528,123
GREENE
GA
640,722
820,209
991,449
1,232,188
GWINNETT
GA
794,601
1,017,230
1,229,593
1,528,123
HARALSON
GA
794,601
1,017,230
1,229,593
1,528,123
HEARD
GA
794,601
1,017,230
1,229,593
1,528,123
HENRY
GA
794,601
1,017,230
1,229,593
1,528,123
JASPER
GA
794,601
1,017,230
1,229,593
1,528,123
LAMAR
GA
794,601
1,017,230
1,229,593
1,528,123
MADISON
GA
696,436
891,554
1,077,674
1,339,292
MERIWETHER
GA
794,601
1,017,230
1,229,593
1,528,123
MORGAN
GA
794,601
1,017,230
1,229,593
1,528,123
NEWTON
GA
794,601
1,017,230
1,229,593
1,528,123
OCONEE
GA
696,436
891,554
1,077,674
1,339,292
OGLETHORPE
GA
696,436
891,554
1,077,674
1,339,292
PAULDING
GA
794,601
1,017,230
1,229,593
1,528,123
PICKENS
GA
794,601
1,017,230
1,229,593
1,528,123
PIKE
GA
794,601
1,017,230
1,229,593
1,528,123
ROCKDALE
GA
794,601
1,017,230
1,229,593
1,528,123
SPALDING
GA
794,601
1,017,230
1,229,593
1,528,123
WALTON
GA
794,601
1,017,230
1,229,593
1,528,123
GUAM
GU
650,007
832,148
1,005,868
1,250,010
HAWAII
HI
659,293
844,029
1,020,229
1,267,889
HONOLULU
HI
899,398
1,151,384
1,391,777
1,729,643
KALAWAO
HI
1,268,178
1,623,519
1,962,480
2,438,883
KAUAI
HI
1,281,443
1,640,476
1,982,955
2,464,376
MAUI
HI
1,268,178
1,623,519
1,962,480
2,438,883
ADA
ID
676,538
866,061
1,046,875
1,301,053
BLAINE
ID
875,520
1,120,816
1,354,807
1,683,733
BOISE
ID
676,538
866,061
1,046,875
1,301,053
CAMAS
ID
875,520
1,120,816
1,354,807
1,683,733
CANYON
ID
676,538
866,061
1,046,875
1,301,053
GEM
ID
676,538
866,061
1,046,875
1,301,053
KOOTENAI
ID
660,620
845,702
1,022,248
1,270,427
OWYHEE
ID
676,538
866,061
1,046,875
1,301,053
TETON
ID
1,395,468
1,786,771
2,159,645
2,684,092
VALLEY
ID
661,946
847,432
1,024,324
1,272,965
BARNSTABLE
MA
921,949
1,180,280
1,426,671
1,773,015
BRISTOL
MA
848,989
1,086,845
1,313,742
1,632,689
DUKES
MA
1,395,468
1,786,771
2,159,645
2,684,092
ESSEX
MA
1,054,604
1,350,077
1,631,940
2,028,115
MIDDLESEX
MA
1,054,604
1,350,077
1,631,940
2,028,115
NANTUCKET
MA
1,395,468
1,786,771
2,159,645
2,684,092
NORFOLK
MA
1,054,604
1,350,077
1,631,940
2,028,115
PLYMOUTH
MA
1,054,604
1,350,077
1,631,940
2,028,115
SUFFOLK
MA
1,054,604
1,350,077
1,631,940
2,028,115
ANNE ARUNDEL
MD
843,683
1,080,039
1,305,552
1,622,481
BALTIMORE
MD
843,683
1,080,039
1,305,552
1,622,481
BALTIMORE CITY
MD
843,683
1,080,039
1,305,552
1,622,481
CALVERT
MD
1,395,468
1,786,771
2,159,645
2,684,092
CARROLL
MD
843,683
1,080,039
1,305,552
1,622,481
CECIL
MD
685,824
878,000
1,061,294
1,318,932
CHARLES
MD
1,395,468
1,786,771
2,159,645
2,684,092
FREDERICK
MD
1,395,468
1,786,771
2,159,645
2,684,092
HARFORD
MD
843,683
1,080,039
1,305,552
1,622,481
HOWARD
MD
843,683
1,080,039
1,305,552
1,622,481
MONTGOMERY
MD
1,395,468
1,786,771
2,159,645
2,684,092
PRINCE GEORGE'S
MD
1,395,468
1,786,771
2,159,645
2,684,092
QUEEN ANNE'S
MD
843,683
1,080,039
1,305,552
1,622,481
CUMBERLAND
ME
692,457
886,479
1,071,561
1,331,679
SAGADAHOC
ME
692,457
886,479
1,071,561
1,331,679
YORK
ME
692,457
886,479
1,071,561
1,331,679
ANOKA
MN
610,211
781,162
944,270
1,173,474
CARVER
MN
610,211
781,162
944,270
1,173,474
CHISAGO
MN
610,211
781,162
944,270
1,173,474
DAKOTA
MN
610,211
781,162
944,270
1,173,474
HENNEPIN
MN
610,211
781,162
944,270
1,173,474
ISANTI
MN
610,211
781,162
944,270
1,173,474
LE SUEUR
MN
610,211
781,162
944,270
1,173,474
MILLE LACS
MN
610,211
781,162
944,270
1,173,474
RAMSEY
MN
610,211
781,162
944,270
1,173,474
SCOTT
MN
610,211
781,162
944,270
1,173,474
SHERBURNE
MN
610,211
781,162
944,270
1,173,474
WASHINGTON
MN
610,211
781,162
944,270
1,173,474
WRIGHT
MN
610,211
781,162
944,270
1,173,474
NORTHERN ISLAND
MP
604,905
774,357
936,022
1,163,265
SAIPAN
MP
610,211
781,162
944,270
1,173,474
TINIAN
MP
614,191
786,296
950,441
1,181,145
CARBON
MT
870,214
1,114,010
1,346,617
1,673,524
FLATHEAD
MT
660,620
845,702
1,022,248
1,270,427
GALLATIN
MT
829,091
1,061,410
1,283,000
1,594,450
MISSOULA
MT
646,028
827,015
999,696
1,242,397
PARK
MT
650,007
832,148
1,005,868
1,250,010
STILLWATER
MT
870,214
1,114,010
1,346,617
1,673,524
YELLOWSTONE
MT
870,214
1,114,010
1,346,617
1,673,524
CAMDEN
NC
874,194
1,119,143
1,352,788
1,681,195
CHATHAM
NC
729,600
934,004
1,129,006
1,403,082
CURRITUCK
NC
874,194
1,119,143
1,352,788
1,681,195
DARE
NC
765,417
979,856
1,184,432
1,472,004
DURHAM
NC
729,600
934,004
1,129,006
1,403,082
FRANKLIN
NC
611,538
782,893
946,288
1,176,069
GATES
NC
874,194
1,119,143
1,352,788
1,681,195
GRANVILLE
NC
729,600
934,004
1,129,006
1,403,082
JOHNSTON
NC
611,538
782,893
946,288
1,176,069
ORANGE
NC
729,600
934,004
1,129,006
1,403,082
PASQUOTANK
NC
928,582
1,188,758
1,436,937
1,785,761
PERQUIMANS
NC
928,582
1,188,758
1,436,937
1,785,761
PERSON
NC
729,600
934,004
1,129,006
1,403,082
WAKE
NC
611,538
782,893
946,288
1,176,069
DAWSON
NE
696,436
891,554
1,077,674
1,339,292
GOSPER
NE
696,436
891,554
1,077,674
1,339,292
HILLSBOROUGH
NH
630,109
806,655
975,069
1,211,771
ROCKINGHAM
NH
1,054,604
1,350,077
1,631,940
2,028,115
STRAFFORD
NH
1,054,604
1,350,077
1,631,940
2,028,115
BERGEN
NJ
1,395,468
1,786,771
2,159,645
2,684,092
BURLINGTON
NJ
685,824
878,000
1,061,294
1,318,932
CAMDEN
NJ
685,824
878,000
1,061,294
1,318,932
CAPE MAY
NJ
769,396
984,989
1,190,604
1,479,618
ESSEX
NJ
1,395,468
1,786,771
2,159,645
2,684,092
GLOUCESTER
NJ
685,824
878,000
1,061,294
1,318,932
HUDSON
NJ
1,395,468
1,786,771
2,159,645
2,684,092
HUNTERDON
NJ
1,395,468
1,786,771
2,159,645
2,684,092
MIDDLESEX
NJ
1,395,468
1,786,771
2,159,645
2,684,092
MONMOUTH
NJ
1,395,468
1,786,771
2,159,645
2,684,092
MORRIS
NJ
1,395,468
1,786,771
2,159,645
2,684,092
OCEAN
NJ
1,395,468
1,786,771
2,159,645
2,684,092
PASSAIC
NJ
1,395,468
1,786,771
2,159,645
2,684,092
SALEM
NJ
685,824
878,000
1,061,294
1,318,932
SOMERSET
NJ
1,395,468
1,786,771
2,159,645
2,684,092
SUSSEX
NJ
1,395,468
1,786,771
2,159,645
2,684,092
UNION
NJ
1,395,468
1,786,771
2,159,645
2,684,092
LOS ALAMOS
NM
798,581
1,022,305
1,235,764
1,535,736
SANTA FE
NM
624,803
799,849
966,821
1,201,562
CARSON CITY
NV
663,273
849,105
1,026,400
1,275,560
DOUGLAS
NV
829,091
1,061,410
1,283,000
1,594,450
STOREY
NV
729,600
934,004
1,129,006
1,403,082
WASHOE
NV
729,600
934,004
1,129,006
1,403,082
BRONX
NY
1,395,468
1,786,771
2,159,645
2,684,092
KINGS
NY
1,395,468
1,786,771
2,159,645
2,684,092
NASSAU
NY
1,395,468
1,786,771
2,159,645
2,684,092
NEW YORK
NY
1,395,468
1,786,771
2,159,645
2,684,092
PUTNAM
NY
1,395,468
1,786,771
2,159,645
2,684,092
QUEENS
NY
1,395,468
1,786,771
2,159,645
2,684,092
RICHMOND
NY
1,395,468
1,786,771
2,159,645
2,684,092
ROCKLAND
NY
1,395,468
1,786,771
2,159,645
2,684,092
SUFFOLK
NY
1,395,468
1,786,771
2,159,645
2,684,092
WESTCHESTER
NY
1,395,468
1,786,771
2,159,645
2,684,092
DELAWARE
OH
656,640
840,626
1,016,134
1,262,756
FAIRFIELD
OH
656,640
840,626
1,016,134
1,262,756
FRANKLIN
OH
656,640
840,626
1,016,134
1,262,756
HOCKING
OH
656,640
840,626
1,016,134
1,262,756
LICKING
OH
656,640
840,626
1,016,134
1,262,756
MADISON
OH
656,640
840,626
1,016,134
1,262,756
MORROW
OH
656,640
840,626
1,016,134
1,262,756
PERRY
OH
656,640
840,626
1,016,134
1,262,756
PICKAWAY
OH
656,640
840,626
1,016,134
1,262,756
UNION
OH
656,640
840,626
1,016,134
1,262,756
BENTON
OR
689,804
883,076
1,067,408
1,326,546
CLACKAMAS
OR
802,560
1,027,438
1,241,935
1,543,407
CLATSOP
OR
647,354
828,745
1,001,715
1,244,934
COLUMBIA
OR
802,560
1,027,438
1,241,935
1,543,407
DESCHUTES
OR
822,458
1,052,874
1,272,734
1,581,646
HOOD RIVER
OR
879,500
1,125,949
1,360,978
1,691,346
MULTNOMAH
OR
802,560
1,027,438
1,241,935
1,543,407
WASHINGTON
OR
802,560
1,027,438
1,241,935
1,543,407
YAMHILL
OR
802,560
1,027,438
1,241,935
1,543,407
BUCKS
PA
685,824
878,000
1,061,294
1,318,932
CHESTER
PA
685,824
878,000
1,061,294
1,318,932
DELAWARE
PA
685,824
878,000
1,061,294
1,318,932
MONTGOMERY
PA
685,824
878,000
1,061,294
1,318,932
PHILADELPHIA
PA
685,824
878,000
1,061,294
1,318,932
PIKE
PA
1,395,468
1,786,771
2,159,645
2,684,092
AGUAS BUENAS
PR
795,927
1,018,902
1,231,669
1,530,661
AIBONITO
PR
795,927
1,018,902
1,231,669
1,530,661
BARCELONETA
PR
795,927
1,018,902
1,231,669
1,530,661
BARRANQUITAS
PR
795,927
1,018,902
1,231,669
1,530,661
BAYAMON
PR
795,927
1,018,902
1,231,669
1,530,661
CAGUAS
PR
795,927
1,018,902
1,231,669
1,530,661
CANOVANAS
PR
795,927
1,018,902
1,231,669
1,530,661
CAROLINA
PR
795,927
1,018,902
1,231,669
1,530,661
CATANO
PR
795,927
1,018,902
1,231,669
1,530,661
CAYEY
PR
795,927
1,018,902
1,231,669
1,530,661
CEIBA
PR
795,927
1,018,902
1,231,669
1,530,661
CIALES
PR
795,927
1,018,902
1,231,669
1,530,661
CIDRA
PR
795,927
1,018,902
1,231,669
1,530,661
COMERIO
PR
795,927
1,018,902
1,231,669
1,530,661
COROZAL
PR
795,927
1,018,902
1,231,669
1,530,661
CULEBRA
PR
614,191
786,296
950,441
1,181,145
DORADO
PR
795,927
1,018,902
1,231,669
1,530,661
FAJARDO
PR
795,927
1,018,902
1,231,669
1,530,661
FLORIDA
PR
795,927
1,018,902
1,231,669
1,530,661
GUAYNABO
PR
795,927
1,018,902
1,231,669
1,530,661
GURABO
PR
795,927
1,018,902
1,231,669
1,530,661
HUMACAO
PR
795,927
1,018,902
1,231,669
1,530,661
JUNCOS
PR
795,927
1,018,902
1,231,669
1,530,661
LAS PIEDRAS
PR
795,927
1,018,902
1,231,669
1,530,661
LOIZA
PR
795,927
1,018,902
1,231,669
1,530,661
LUQUILLO
PR
795,927
1,018,902
1,231,669
1,530,661
MANATI
PR
795,927
1,018,902
1,231,669
1,530,661
MAUNABO
PR
795,927
1,018,902
1,231,669
1,530,661
MOROVIS
PR
795,927
1,018,902
1,231,669
1,530,661
NAGUABO
PR
795,927
1,018,902
1,231,669
1,530,661
NARANJITO
PR
795,927
1,018,902
1,231,669
1,530,661
OROCOVIS
PR
795,927
1,018,902
1,231,669
1,530,661
RIO GRANDE
PR
795,927
1,018,902
1,231,669
1,530,661
SAN JUAN
PR
795,927
1,018,902
1,231,669
1,530,661
SAN LORENZO
PR
795,927
1,018,902
1,231,669
1,530,661
TOA ALTA
PR
795,927
1,018,902
1,231,669
1,530,661
TOA BAJA
PR
795,927
1,018,902
1,231,669
1,530,661
TRUJILLO ALTO
PR
795,927
1,018,902
1,231,669
1,530,661
VEGA ALTA
PR
795,927
1,018,902
1,231,669
1,530,661
VEGA BAJA
PR
795,927
1,018,902
1,231,669
1,530,661
YABUCOA
PR
795,927
1,018,902
1,231,669
1,530,661
BRISTOL
RI
848,989
1,086,845
1,313,742
1,632,689
KENT
RI
848,989
1,086,845
1,313,742
1,632,689
NEWPORT
RI
848,989
1,086,845
1,313,742
1,632,689
PROVIDENCE
RI
848,989
1,086,845
1,313,742
1,632,689
WASHINGTON
RI
848,989
1,086,845
1,313,742
1,632,689
BEAUFORT
SC
703,069
900,032
1,087,941
1,352,096
BERKELEY
SC
729,600
934,004
1,129,006
1,403,082
CHARLESTON
SC
729,600
934,004
1,129,006
1,403,082
DORCHESTER
SC
729,600
934,004
1,129,006
1,403,082
JASPER
SC
703,069
900,032
1,087,941
1,352,096
LAWRENCE
SD
624,803
799,849
966,821
1,201,562
CANNON
TN
1,140,829
1,460,469
1,765,402
2,193,934
CHEATHAM
TN
1,140,829
1,460,469
1,765,402
2,193,934
DAVIDSON
TN
1,140,829
1,460,469
1,765,402
2,193,934
DICKSON
TN
1,140,829
1,460,469
1,765,402
2,193,934
MACON
TN
1,140,829
1,460,469
1,765,402
2,193,934
MAURY
TN
1,140,829
1,460,469
1,765,402
2,193,934
ROBERTSON
TN
1,140,829
1,460,469
1,765,402
2,193,934
RUTHERFORD
TN
1,140,829
1,460,469
1,765,402
2,193,934
SMITH
TN
1,140,829
1,460,469
1,765,402
2,193,934
SUMNER
TN
1,140,829
1,460,469
1,765,402
2,193,934
TROUSDALE
TN
1,140,829
1,460,469
1,765,402
2,193,934
WILLIAMSON
TN
1,140,829
1,460,469
1,765,402
2,193,934
WILSON
TN
1,140,829
1,460,469
1,765,402
2,193,934
ATASCOSA
TX
643,375
823,612
995,601
1,237,263
BANDERA
TX
643,375
823,612
995,601
1,237,263
BASTROP
TX
659,293
844,029
1,020,229
1,267,889
BEXAR
TX
643,375
823,612
995,601
1,237,263
CALDWELL
TX
659,293
844,029
1,020,229
1,267,889
COLLIN
TX
650,007
832,148
1,005,868
1,250,010
COMAL
TX
643,375
823,612
995,601
1,237,263
DALLAS
TX
650,007
832,148
1,005,868
1,250,010
DENTON
TX
650,007
832,148
1,005,868
1,250,010
ELLIS
TX
650,007
832,148
1,005,868
1,250,010
GUADALUPE
TX
643,375
823,612
995,601
1,237,263
HAYS
TX
659,293
844,029
1,020,229
1,267,889
HUNT
TX
650,007
832,148
1,005,868
1,250,010
JOHNSON
TX
650,007
832,148
1,005,868
1,250,010
KAUFMAN
TX
650,007
832,148
1,005,868
1,250,010
KENDALL
TX
643,375
823,612
995,601
1,237,263
MEDINA
TX
643,375
823,612
995,601
1,237,263
PARKER
TX
650,007
832,148
1,005,868
1,250,010
ROCKWALL
TX
650,007
832,148
1,005,868
1,250,010
TARRANT
TX
650,007
832,148
1,005,868
1,250,010
TRAVIS
TX
659,293
844,029
1,020,229
1,267,889
WILLIAMSON
TX
659,293
844,029
1,020,229
1,267,889
WILSON
TX
643,375
823,612
995,601
1,237,263
WISE
TX
650,007
832,148
1,005,868
1,250,010
BOX ELDER
UT
858,275
1,098,726
1,328,161
1,650,569
DAVIS
UT
858,275
1,098,726
1,328,161
1,650,569
GRAND
UT
818,479
1,047,798
1,266,563
1,574,033
JUAB
UT
693,783
888,151
1,073,579
1,334,217
MORGAN
UT
858,275
1,098,726
1,328,161
1,650,569
RICH
UT
668,579
855,910
1,034,590
1,285,769
SALT LAKE
UT
725,620
928,928
1,122,834
1,395,468
SUMMIT
UT
1,342,464
1,718,626
2,077,428
2,581,746
TOOELE
UT
725,620
928,928
1,122,834
1,395,468
UTAH
UT
693,783
888,151
1,073,579
1,334,217
WASATCH
UT
1,342,464
1,718,626
2,077,428
2,581,746
WASHINGTON
UT
684,498
876,270
1,059,218
1,316,337
WAYNE
UT
1,150,115
1,472,350
1,779,763
2,211,813
WEBER
UT
858,275
1,098,726
1,328,161
1,650,569
ALBEMARLE
VA
683,171
874,597
1,057,142
1,313,799
ALEXANDRIA CITY
VA
1,395,468
1,786,771
2,159,645
2,684,092
AMELIA
VA
777,356
995,140
1,202,889
1,494,959
ARLINGTON
VA
1,395,468
1,786,771
2,159,645
2,684,092
CHARLES CITY
VA
777,356
995,140
1,202,889
1,494,959
CHARLOTTESVILLE
VA
683,171
874,597
1,057,142
1,313,799
CHESAPEAKE CITY
VA
874,194
1,119,143
1,352,788
1,681,195
CHESTERFIELD
VA
777,356
995,140
1,202,889
1,494,959
CLARKE
VA
1,395,468
1,786,771
2,159,645
2,684,092
COLONIAL HEIGHT
VA
777,356
995,140
1,202,889
1,494,959
CULPEPER
VA
1,395,468
1,786,771
2,159,645
2,684,092
DINWIDDIE
VA
777,356
995,140
1,202,889
1,494,959
FAIRFAX
VA
1,395,468
1,786,771
2,159,645
2,684,092
FAIRFAX CITY
VA
1,395,468
1,786,771
2,159,645
2,684,092
FALLS CHURCH CI
VA
1,395,468
1,786,771
2,159,645
2,684,092
FAUQUIER
VA
1,395,468
1,786,771
2,159,645
2,684,092
FLUVANNA
VA
683,171
874,597
1,057,142
1,313,799
FRANKLIN CITY
VA
874,194
1,119,143
1,352,788
1,681,195
FREDERICKSBURG
VA
1,395,468
1,786,771
2,159,645
2,684,092
GLOUCESTER
VA
874,194
1,119,143
1,352,788
1,681,195
GOOCHLAND
VA
777,356
995,140
1,202,889
1,494,959
GREENE
VA
683,171
874,597
1,057,142
1,313,799
HAMPTON CITY
VA
874,194
1,119,143
1,352,788
1,681,195
HANOVER
VA
777,356
995,140
1,202,889
1,494,959
HENRICO
VA
777,356
995,140
1,202,889
1,494,959
HOPEWELL CITY
VA
777,356
995,140
1,202,889
1,494,959
ISLE OF WIGHT
VA
874,194
1,119,143
1,352,788
1,681,195
JAMES CITY
VA
874,194
1,119,143
1,352,788
1,681,195
KING AND QUEEN
VA
777,356
995,140
1,202,889
1,494,959
KING WILLIAM
VA
777,356
995,140
1,202,889
1,494,959
LOUDOUN
VA
1,395,468
1,786,771
2,159,645
2,684,092
MADISON
VA
1,395,468
1,786,771
2,159,645
2,684,092
MANASSAS CITY
VA
1,395,468
1,786,771
2,159,645
2,684,092
MANASSAS PARK C
VA
1,395,468
1,786,771
2,159,645
2,684,092
MATHEWS
VA
874,194
1,119,143
1,352,788
1,681,195
NELSON
VA
683,171
874,597
1,057,142
1,313,799
NEW KENT
VA
777,356
995,140
1,202,889
1,494,959
NEWPORT NEWS CI
VA
874,194
1,119,143
1,352,788
1,681,195
NORFOLK CITY
VA
874,194
1,119,143
1,352,788
1,681,195
PETERSBURG CITY
VA
777,356
995,140
1,202,889
1,494,959
POQUOSON CITY
VA
874,194
1,119,143
1,352,788
1,681,195
PORTSMOUTH CITY
VA
874,194
1,119,143
1,352,788
1,681,195
POWHATAN
VA
777,356
995,140
1,202,889
1,494,959
PRINCE GEORGE
VA
777,356
995,140
1,202,889
1,494,959
PRINCE WILLIAM
VA
1,395,468
1,786,771
2,159,645
2,684,092
RAPPAHANNOCK
VA
1,395,468
1,786,771
2,159,645
2,684,092
RICHMOND CITY
VA
777,356
995,140
1,202,889
1,494,959
SOUTHAMPTON
VA
874,194
1,119,143
1,352,788
1,681,195
SPOTSYLVANIA
VA
1,395,468
1,786,771
2,159,645
2,684,092
STAFFORD
VA
1,395,468
1,786,771
2,159,645
2,684,092
SUFFOLK CITY
VA
874,194
1,119,143
1,352,788
1,681,195
SUSSEX
VA
777,356
995,140
1,202,889
1,494,959
VIRGINIA BEACH
VA
874,194
1,119,143
1,352,788
1,681,195
WARREN
VA
1,395,468
1,786,771
2,159,645
2,684,092
WILLIAMSBURG CI
VA
874,194
1,119,143
1,352,788
1,681,195
YORK
VA
874,194
1,119,143
1,352,788
1,681,195
ST. JOHN ISLAND
VI
1,285,423
1,645,609
1,989,126
2,472,047
ST. THOMAS ISLA
VI
776,029
993,467
1,200,870
1,492,364
CHITTENDEN
VT
663,273
849,105
1,026,400
1,275,560
FRANKLIN
VT
663,273
849,105
1,026,400
1,275,560
GRAND ISLE
VT
663,273
849,105
1,026,400
1,275,560
CHELAN
WA
630,109
806,655
975,069
1,211,771
CLARK
WA
802,560
1,027,438
1,241,935
1,543,407
DOUGLAS
WA
630,109
806,655
975,069
1,211,771
ISLAND
WA
696,436
891,554
1,077,674
1,339,292
KING
WA
1,196,544
1,531,814
1,851,627
2,301,095
KITSAP
WA
663,273
849,105
1,026,400
1,275,560
PIERCE
WA
1,196,544
1,531,814
1,851,627
2,301,095
SKAGIT
WA
650,007
832,148
1,005,868
1,250,010
SKAMANIA
WA
802,560
1,027,438
1,241,935
1,543,407
SNOHOMISH
WA
1,196,544
1,531,814
1,851,627
2,301,095
THURSTON
WA
643,375
823,612
995,601
1,237,263
WHATCOM
WA
729,600
934,004
1,129,006
1,403,082
WHITMAN
WA
668,579
855,910
1,034,590
1,285,769
PIERCE
WI
610,211
781,162
944,270
1,173,474
ST. CROIX
WI
610,211
781,162
944,270
1,173,474
JEFFERSON
WV
1,395,468
1,786,771
2,159,645
2,684,092
TETON
WY
1,395,468
1,786,771
2,159,645
2,684,092
All other areas – 2,794 counties (floor):
$604,703
$774,241
$935,820
$1,163,092
.02 The nationwide average purchase price (for use in the housing cost/income ratio for new and existing residences) is $540,700.
SECTION 5. EFFECT ON OTHER DOCUMENTS
Rev. Proc. 2024-21 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 April 16, 2025, 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. 2024-21, with respect to bonds sold, or for mortgage credit certificates issued with respect to bond authority exchanged, before May 16, 2025, if the commitments to provide financing or issue mortgage credit certificates are made on or before June 15, 2025.
.03 Except as provided in section 6.04 of this revenue procedure, 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 April 16, 2025, 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. 2024-21 with respect to bonds sold, or for mortgage credit certificates issued with respect to bond authority exchanged, before May 16, 2025, if the commitments to provide financing or issue mortgage credit certificates are made on or before June 15, 2025.
SECTION 7. PRIOR COMMENTS RECEIVED
In Section 7 of Rev. Proc. 2024-21, the Treasury Department and the Internal Revenue Service (IRS) requested comments for alternate data sources to calculate average area purchase prices. The Treasury Department and the IRS have reviewed all received comments and have determined that no changes to the data or the methodology for calculating average area purchase prices will be made.
SECTION 8. 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.
Section 3.03 of this revenue procedure contains a collection of information requirement. 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 MSA for purposes of §§ 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.
SECTION 9. DRAFTING INFORMATION
The principal authors of this revenue procedure are Zoran Stojanovic and Elena Hildebrandt of the Office of Associate Chief Counsel (Financial Institutions & Products). For further information regarding this revenue procedure contact Ms. Hildebrandt at (202) 317-4565 (not a toll-free number).
1 Unless otherwise specified, all “section” or “§” references are to sections of the Internal Revenue Code or the Temporary Regulations under Title II of the Omnibus Reconciliation Act of 1980 (26 CFR part 6a).
History
Revenue Procedure published in Internal Revenue Bulletin 2025-19, May 5, 2025, at page 1430. It states no effective date of its own; this row opens at the bulletin's publication date. Effect on other documents, as printed: "Rev. Proc. 2024-21 is obsolete except as provided in section 6 of this revenue procedure."
Provenance
- Source
- irs.gov
- Retrieved
- 2026-09-20
- Edition
- irs-irb-2026-09-20
- Content hash
1ce56be2d3154f2ae5958b70c51e66b6edaf6b3c31e76073a74f81082f5c3a6c
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