Housing Tax Credit Monitor
CohnReznick’s Tax Credit Investment Services (TCIS) practice helps institutional investors strategically acquire and manage tax credit investments. Bi-monthly, the TCIS team publishes the Housing Tax Credit Monitor in Tax Credit Advisor, a leading industry publication produced by the National Housing & Rehabilitation Association.
Housing Tax Credit Monitor (March 2019)
CohnReznick’s Tax Credit Investment Services (TCIS) group updates the latest survey of housing tax credit market participants, including 40 syndicators and direct investors, estimates the 2018 gross housing credit equity volume to approximate $16.4billion. The 2018 volume reflects a $1.8 billion (12%) increase from the 2017 volume amount of $14.5 billion. Read more here including current national and regional multi-investor funds, pricing and other insights.
HOUSING TAX CREDIT MONITOR (JANUARY 2019)
CohnReznick’s Tax Credit Investment Services group brings the latest update on housing credit pricing in the “Tax Credit Monitor.” Read their insights on where 2018 year-end pricing for credits ended and its comparison to 2017's final two months. As always, current national and regional multi-investor funds are covered along with a special focus on Puerto Rico.
Housing Tax Credit Monitor (November 2018)
CohnReznick’s Tax Credit Investment Services group brings the latest update on housing credit pricing in the “Tax Credit Monitor.” Also, the Tax Cuts and Jobs Act of 2017 created a question that every housing credit partnership prior to filing 2018 returns needs to address: Will the building owner elect to be a real property trade or business to fully deduct the net business interest expense of the entity? Read their insights here on both.
Tax Reform Implications (May 2018)
Since the passage of what’s commonly referred to as the Tax Cuts and Jobs Act on December 22, 2017, CohnReznick has gathered additional technical information that is critical for the industry to consider.
Year-End Housing Credit Equity Volume Survey (March 2018)
Through a survey of housing tax credit market participants, including 36 syndicators and director investors, CohnReznick estimates the 2017 gross housing credit equity volume to approximate $15.1 billion. Last year’s volume reflects a $1.7 billion (10%) reduction from the 2016 volume. The 2017 volume included carried over product from 2016 that did not close until early 2017; otherwise the 10% reduction would have been more pronounced.
Year-End Race to Close Bond Deals (January 2018)
As of mid-Dec 2017, the uncertainty surrounding the continuation of private activity bonds (PABs) for use in developing multifamily housing credit properties still left many industry players scrambling to close 4% LIHTC investments by year-end. Based on CohnReznick’s review of lower tier investment closings in the fourth quarter of 2017, the industry was focused on preserving the production of LIHTC projects that had a PAB reservation letter in place from a state bond agency and corresponding ‘as-of-right’ allocation of non-competitive 4% LIHTCs.
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