Bulletin No. 2022–16
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HIGHLIGHTS
OF THIS ISSUE
Bulletin No. 2022–16
April 18, 2022
These synopses are intended only as aids to the reader in
identifying the subject matter covered. They may not be
relied upon as authoritative interpretations.
ADMINISTRATIVE
Rev. Proc. 2022-21, page 1015.
This revenue procedure provides issuers of qualified
mortgage bonds, as defined in § 143(a) of the Internal
Revenue Code (Code), and issuers of mortgage credit
Finding Lists begin on page ii.
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.
The IRS Mission
Provide America’s taxpayers top-quality service by helping
them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.
Introduction
The Internal Revenue Bulletin is the authoritative instrument
of the Commissioner of Internal Revenue for announcing official rulings and procedures of the Internal Revenue Service
and for publishing Treasury Decisions, Executive Orders, Tax
Conventions, legislation, court decisions, and other items of
general interest. It is published weekly.
It is the policy of the Service to publish in the Bulletin all substantive rulings necessary to promote a uniform application
of the tax laws, including all rulings that supersede, revoke,
modify, or amend any of those previously published in the
Bulletin. All published rulings apply retroactively unless otherwise indicated. Procedures relating solely to matters of internal management are not published; however, statements of
internal practices and procedures that affect the rights and
duties of taxpayers are published.
Revenue rulings represent the conclusions of the Service
on the application of the law to the pivotal facts stated in
the revenue ruling. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices,
identifying details and information of a confidential nature are
deleted to prevent unwarranted invasions of privacy and to
comply with statutory requirements.
Rulings and procedures reported in the Bulletin do not have the
force and effect of Treasury Department Regulations, but they
may be used as precedents. Unpublished rulings will not be
relied on, used, or cited as precedents by Service personnel in
the disposition of other cases. In applying published rulings and
procedures, the effect of subsequent legislation, regulations,
court decisions, rulings, and procedures must be considered,
and Service personnel and others concerned are cautioned
against reaching the same conclusions in other cases unless
the facts and circumstances are substantially the same.
The Bulletin is divided into four parts as follows:
Part I.—1986 Code.
This part includes rulings and decisions based on provisions
of the Internal Revenue Code of 1986.
Part II.—Treaties and Tax Legislation.
This part is divided into two subparts as follows: Subpart A,
Tax Conventions and Other Related Items, and Subpart B,
Legislation and Related Committee Reports.
Part III.—Administrative, Procedural, and Miscellaneous.
To the extent practicable, pertinent cross references to these
subjects are contained in the other Parts and Subparts. Also
included in this part are Bank Secrecy Act Administrative
Rulings. Bank Secrecy Act Administrative Rulings are issued
by the Department of the Treasury’s Office of the Assistant
Secretary (Enforcement).
Part IV.—Items of General Interest.
This part includes notices of proposed rulemakings, disbarment and suspension lists, and announcements.
The last Bulletin for each month includes a cumulative index
for the matters published during the preceding months. These
monthly indexes are cumulated on a semiannual basis, and are
published in the last Bulletin of each semiannual period.
The contents of this publication are not copyrighted and may be reprinted freely. A citation of the Internal Revenue Bulletin as the source would be appropriate.
April 18, 2022
Bulletin No. 2022–16
Part III
26 CFR 601.601: Rules and Regulations
(Also Part 1, §§ 25, 143, 6a.103A-1(b)(4),
6a.103A-2(f)(5)).
Rev. Proc. 2022-21
SECTION 1. PURPOSE
This revenue procedure provides issuers of qualified mortgage bonds, as defined in § 143(a) of the Internal Revenue
Code (Code), 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
Bulletin No. 2022–16
$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
1015
equivalent of a county. Section 6a.103A1(b)(4)(i) of the Income Tax Regulations
(issued under § 103A of the Internal Revenue Code of 1954, the predecessor of
§ 143 of the Code) 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
April 18, 2022
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. 2021-17, 2021-15 I.R.B. 991.
.12 The nationwide average purchase
price was last published in section 4.02
of Rev. Proc. 2021-17. 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.
April 18, 2022
.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. The Treasury
Department and the Internal Revenue
Service (IRS) have determined that FHA
loan limits provide a reasonable basis for
determining average area purchase price
safe harbors. If the Treasury Department and the IRS 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 November 30, 2021. 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 30,
2021.
.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.
1016
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 30, 2021, 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 1.083.
.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. 03-04, the issuer
Bulletin No. 2022–16
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. 2021-17, the issuer must use the nationwide average
purchase price set forth in section 4.02
of Rev. Proc. 2021-17 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. 2021-17, the issuer must use the average area purchase
price safe harbors set forth in section
4.01 of Rev. Proc. 2021-17 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.
2022 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
$503,224
$644,193
$778,700
$967,767
ANCHORAGE MUNIC
AK
$416,168
$532,766
$644,008
$800,348
JUNEAU CITY AND
AK
$472,436
$604,819
$731,064
$908,545
KODIAK ISLAND B
AK
$418,292
$535,489
$647,286
$804,410
MATANUSKA-SUSIT
AK
$416,168
$532,766
$644,008
$800,348
NOME CENSUS ARE
AK
$406,613
$520,533
$629,191
$781,931
SITKA CITY AND
AK
$465,004
$595,265
$719,570
$894,236
SKAGWAY MUNICIP
AK
$407,675
$521,872
$630,853
$784,008
YAKUTAT CITY AN
AK
$388,565
$497,408
$601,265
$747,266
COCONINO
AZ
$390,689
$500,131
$604,543
$751,328
MARICOPA
AZ
$407,675
$521,872
$630,853
$784,008
PINAL
AZ
$407,675
$521,872
$630,853
$784,008
ALAMEDA
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
ALPINE
CA
$427,846
$547,721
$662,056
$822,782
CONTRA COSTA
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
EL DORADO
CA
$623,191
$797,810
$964,351
$1,198,469
INYO
CA
$398,120
$509,640
$616,082
$765,637
LOS ANGELES
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
Bulletin No. 2022–16
1017
April 18, 2022
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
MARIN
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
MENDOCINO
CA
$467,128
$597,988
$722,848
$898,344
MONO
CA
$520,210
$665,980
$805,010
$1,000,401
MONTEREY
CA
$788,809
$1,009,817
$1,220,625
$1,516,965
NAPA
CA
$828,090
$1,060,130
$1,281,416
$1,592,527
NEVADA
CA
$562,676
$720,309
$870,695
$1,082,102
ORANGE
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
PLACER
CA
$623,191
$797,810
$964,351
$1,198,469
RIVERSIDE
CA
$519,149
$664,595
$803,349
$998,370
SACRAMENTO
CA
$623,191
$797,810
$964,351
$1,198,469
SAN BENITO
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
SAN BERNARDINO
CA
$519,149
$664,595
$803,349
$998,370
SAN DIEGO
CA
$812,165
$1,039,728
$1,256,767
$1,561,877
SAN FRANCISCO
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
SAN JOAQUIN
CA
$520,210
$665,980
$805,010
$1,000,401
SAN LUIS OBISPO
CA
$743,158
$951,380
$1,150,002
$1,429,171
SAN MATEO
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
SANTA BARBARA
CA
$722,986
$925,577
$1,118,798
$1,390,397
SANTA CLARA
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
SANTA CRUZ
CA
$896,220
$1,147,555
$1,387,051
$1,723,826
SOLANO
CA
$566,923
$725,756
$877,295
$1,090,272
SONOMA
CA
$706,000
$903,790
$1,092,488
$1,357,717
STANISLAUS
CA
$424,661
$543,613
$657,117
$816,642
SUTTER
CA
$388,565
$497,408
$601,265
$747,266
VENTURA
CA
$785,624
$1,005,755
$1,215,732
$1,510,826
YOLO
CA
$623,191
$797,810
$964,351
$1,198,469
YUBA
CA
$388,565
$497,408
$601,265
$747,266
ADAMS
CO
$631,684
$808,657
$977,506
$1,214,809
ARAPAHOE
CO
$631,684
$808,657
$977,506
$1,214,809
BOULDER
CO
$690,075
$883,434
$1,067,839
$1,327,067
BROOMFIELD
CO
$631,684
$808,657
$977,506
$1,214,809
CHAFFEE
CO
$425,723
$544,998
$658,779
$818,720
CLEAR CREEK
CO
$631,684
$808,657
$977,506
$1,214,809
DENVER
CO
$631,684
$808,657
$977,506
$1,214,809
DOUGLAS
CO
$631,684
$808,657
$977,506
$1,214,809
EAGLE
CO
$796,240
$1,019,326
$1,232,165
$1,531,274
EL PASO
CO
$424,661
$543,613
$657,117
$816,642
ELBERT
CO
$631,684
$808,657
$977,506
$1,214,809
GARFIELD
CO
$896,220
$1,147,555
$1,387,051
$1,723,826
GILPIN
CO
$631,684
$808,657
$977,506
$1,214,809
April 18, 2022
1018
Bulletin No. 2022–16
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
GRAND
CO
$493,669
$631,961
$763,929
$949,349
GUNNISON
CO
$398,120
$509,640
$616,082
$765,637
HINSDALE
CO
$394,935
$505,578
$611,143
$759,498
JEFFERSON
CO
$631,684
$808,657
$977,506
$1,214,809
LA PLATA
CO
$456,511
$584,417
$706,415
$877,895
LARIMER
CO
$481,991
$617,052
$745,835
$926,916
MONTROSE
CO
$392,812
$502,855
$607,866
$755,390
OURAY
CO
$392,812
$502,855
$607,866
$755,390
PARK
CO
$631,684
$808,657
$977,506
$1,214,809
PITKIN
CO
$896,220
$1,147,555
$1,387,051
$1,723,826
ROUTT
CO
$626,376
$801,872
$969,290
$1,204,608
SAN MIGUEL
CO
$896,220
$1,147,555
$1,387,051
$1,723,826
SUMMIT
CO
$854,631
$1,094,103
$1,322,497
$1,643,532
TELLER
CO
$424,661
$543,613
$657,117
$816,642
WELD
CO
$445,895
$570,800
$689,983
$857,493
FAIRFIELD
CT
$642,300
$822,274
$993,939
$1,235,211
DISTRICT OF COL
DC
$896,220
$1,147,555
$1,387,051
$1,723,826
NEW CASTLE
DE
$440,586
$564,015
$681,766
$847,292
BAKER
FL
$399,182
$511,025
$617,698
$767,668
BROWARD
FL
$424,661
$543,613
$657,117
$816,642
CLAY
FL
$399,182
$511,025
$617,698
$767,668
COLLIER
FL
$509,594
$652,363
$788,578
$979,999
DUVAL
FL
$399,182
$511,025
$617,698
$767,668
MARTIN
FL
$398,120
$509,640
$616,082
$765,637
MIAMI-DADE
FL
$424,661
$543,613
$657,117
$816,642
MONROE
FL
$656,102
$839,907
$1,015,264
$1,261,752
NASSAU
FL
$399,182
$511,025
$617,698
$767,668
OKALOOSA
FL
$497,916
$637,408
$770,484
$957,519
PALM BEACH
FL
$424,661
$543,613
$657,117
$816,642
ST. JOHNS
FL
$399,182
$511,025
$617,698
$767,668
ST. LUCIE
FL
$398,120
$509,640
$616,082
$765,637
WALTON
FL
$497,916
$637,408
$770,484
$957,519
BARROW
GA
$435,278
$557,230
$673,550
$837,091
BARTOW
GA
$435,278
$557,230
$673,550
$837,091
BUTTS
GA
$435,278
$557,230
$673,550
$837,091
CARROLL
GA
$435,278
$557,230
$673,550
$837,091
Bulletin No. 2022–16
1019
April 18, 2022
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
CHEROKEE
GA
$435,278
$557,230
$673,550
$837,091
CLARKE
GA
$422,538
$540,936
$653,840
$812,581
CLAYTON
GA
$435,278
$557,230
$673,550
$837,091
COBB
GA
$435,278
$557,230
$673,550
$837,091
COWETA
GA
$435,278
$557,230
$673,550
$837,091
DAWSON
GA
$435,278
$557,230
$673,550
$837,091
DEKALB
GA
$435,278
$557,230
$673,550
$837,091
DOUGLAS
GA
$435,278
$557,230
$673,550
$837,091
FAYETTE
GA
$435,278
$557,230
$673,550
$837,091
FORSYTH
GA
$435,278
$557,230
$673,550
$837,091
FULTON
GA
$435,278
$557,230
$673,550
$837,091
GREENE
GA
$475,621
$608,881
$736,003
$914,684
GWINNETT
GA
$435,278
$557,230
$673,550
$837,091
HARALSON
GA
$435,278
$557,230
$673,550
$837,091
HEARD
GA
$435,278
$557,230
$673,550
$837,091
HENRY
GA
$435,278
$557,230
$673,550
$837,091
JASPER
GA
$435,278
$557,230
$673,550
$837,091
LAMAR
GA
$435,278
$557,230
$673,550
$837,091
MADISON
GA
$422,538
$540,936
$653,840
$812,581
MERIWETHER
GA
$435,278
$557,230
$673,550
$837,091
MORGAN
GA
$435,278
$557,230
$673,550
$837,091
NEWTON
GA
$435,278
$557,230
$673,550
$837,091
OCONEE
GA
$422,538
$540,936
$653,840
$812,581
OGLETHORPE
GA
$422,538
$540,936
$653,840
$812,581
PAULDING
GA
$435,278
$557,230
$673,550
$837,091
PICKENS
GA
$435,278
$557,230
$673,550
$837,091
PIKE
GA
$435,278
$557,230
$673,550
$837,091
ROCKDALE
GA
$435,278
$557,230
$673,550
$837,091
SPALDING
GA
$435,278
$557,230
$673,550
$837,091
WALTON
GA
$435,278
$557,230
$673,550
$837,091
HAWAII
HI
$440,586
$564,015
$681,766
$847,292
HONOLULU
HI
$690,075
$883,434
$1,067,839
$1,327,067
KALAWAO
HI
$764,391
$978,568
$1,182,867
$1,470,021
KAUAI
HI
$780,315
$998,970
$1,207,516
$1,500,624
MAUI
HI
$764,391
$978,568
$1,182,867
$1,470,021
ADA
ID
$475,621
$608,881
$736,003
$914,684
BLAINE
ID
$598,773
$766,514
$926,547
$1,151,479
BOISE
ID
$475,621
$608,881
$736,003
$914,684
BONNER
ID
$394,935
$505,578
$611,143
$759,498
April 18, 2022
1020
Bulletin No. 2022–16
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
CAMAS
ID
$598,773
$766,514
$926,547
$1,151,479
CANYON
ID
$475,621
$608,881
$736,003
$914,684
GEM
ID
$475,621
$608,881
$736,003
$914,684
KOOTENAI
ID
$445,895
$570,800
$689,983
$857,493
OWYHEE
ID
$475,621
$608,881
$736,003
$914,684
TETON
ID
$896,220
$1,147,555
$1,387,051
$1,723,826
JOHNSON
KS
$398,120
$509,640
$616,082
$765,637
LEAVENWORTH
KS
$398,120
$509,640
$616,082
$765,637
LINN
KS
$398,120
$509,640
$616,082
$765,637
MIAMI
KS
$398,120
$509,640
$616,082
$765,637
WYANDOTTE
KS
$398,120
$509,640
$616,082
$765,637
BARNSTABLE
MA
$573,293
$733,926
$887,127
$1,102,504
BRISTOL
MA
$546,752
$699,953
$846,046
$1,051,453
DUKES
MA
$896,220
$1,147,555
$1,387,051
$1,723,826
ESSEX
MA
$711,308
$910,622
$1,100,704
$1,367,918
MIDDLESEX
MA
$711,308
$910,622
$1,100,704
$1,367,918
NANTUCKET
MA
$896,220
$1,147,555
$1,387,051
$1,723,826
NORFOLK
MA
$711,308
$910,622
$1,100,704
$1,367,918
PLYMOUTH
MA
$711,308
$910,622
$1,100,704
$1,367,918
SUFFOLK
MA
$711,308
$910,622
$1,100,704
$1,367,918
ANNE ARUNDEL
MD
$538,258
$689,059
$832,937
$1,035,112
BALTIMORE
MD
$538,258
$689,059
$832,937
$1,035,112
BALTIMORE CITY
MD
$538,258
$689,059
$832,937
$1,035,112
CALVERT
MD
$896,220
$1,147,555
$1,387,051
$1,723,826
CARROLL
MD
$538,258
$689,059
$832,937
$1,035,112
CECIL
MD
$440,586
$564,015
$681,766
$847,292
CHARLES
MD
$896,220
$1,147,555
$1,387,051
$1,723,826
FREDERICK
MD
$896,220
$1,147,555
$1,387,051
$1,723,826
HARFORD
MD
$538,258
$689,059
$832,937
$1,035,112
HOWARD
MD
$538,258
$689,059
$832,937
$1,035,112
MONTGOMERY
MD
$896,220
$1,147,555
$1,387,051
$1,723,826
PRINCE GEORGE'S
MD
$896,220
$1,147,555
$1,387,051
$1,723,826
QUEEN ANNE'S
MD
$538,258
$689,059
$832,937
$1,035,112
TALBOT
MD
$398,120
$509,640
$616,082
$765,637
CUMBERLAND
ME
$427,846
$547,721
$662,056
$822,782
SAGADAHOC
ME
$427,846
$547,721
$662,056
$822,782
YORK
ME
$427,846
$547,721
$662,056
$822,782
Bulletin No. 2022–16
1021
April 18, 2022
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
ANOKA
MN
$414,045
$530,042
$640,685
$796,240
CARVER
MN
$414,045
$530,042
$640,685
$796,240
CHISAGO
MN
$414,045
$530,042
$640,685
$796,240
DAKOTA
MN
$414,045
$530,042
$640,685
$796,240
HENNEPIN
MN
$414,045
$530,042
$640,685
$796,240
ISANTI
MN
$414,045
$530,042
$640,685
$796,240
LE SUEUR
MN
$414,045
$530,042
$640,685
$796,240
MILLE LACS
MN
$414,045
$530,042
$640,685
$796,240
RAMSEY
MN
$414,045
$530,042
$640,685
$796,240
SCOTT
MN
$414,045
$530,042
$640,685
$796,240
SHERBURNE
MN
$414,045
$530,042
$640,685
$796,240
WASHINGTON
MN
$414,045
$530,042
$640,685
$796,240
WRIGHT
MN
$414,045
$530,042
$640,685
$796,240
BATES
MO
$398,120
$509,640
$616,082
$765,637
CALDWELL
MO
$398,120
$509,640
$616,082
$765,637
CASS
MO
$398,120
$509,640
$616,082
$765,637
CLAY
MO
$398,120
$509,640
$616,082
$765,637
CLINTON
MO
$398,120
$509,640
$616,082
$765,637
JACKSON
MO
$398,120
$509,640
$616,082
$765,637
LAFAYETTE
MO
$398,120
$509,640
$616,082
$765,637
PLATTE
MO
$398,120
$509,640
$616,082
$765,637
RAY
MO
$398,120
$509,640
$616,082
$765,637
FLATHEAD
MT
$407,675
$521,872
$630,853
$784,008
GALLATIN
MT
$557,368
$713,524
$862,478
$1,071,855
MISSOULA
MT
$435,278
$557,230
$673,550
$837,091
PARK
MT
$424,661
$543,613
$657,117
$816,642
RAVALLI
MT
$389,627
$498,793
$602,927
$749,297
CAMDEN
NC
$451,203
$577,632
$698,199
$867,694
CHATHAM
NC
$467,128
$597,988
$722,848
$898,344
CURRITUCK
NC
$451,203
$577,632
$698,199
$867,694
DARE
NC
$435,278
$557,230
$673,550
$837,091
DURHAM
NC
$467,128
$597,988
$722,848
$898,344
GATES
NC
$451,203
$577,632
$698,199
$867,694
GRANVILLE
NC
$467,128
$597,988
$722,848
$898,344
HYDE
NC
$445,895
$570,800
$689,983
$857,493
ORANGE
NC
$467,128
$597,988
$722,848
$898,344
PASQUOTANK
NC
$743,158
$951,380
$1,150,002
$1,429,171
April 18, 2022
1022
Bulletin No. 2022–16
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
PERQUIMANS
NC
$743,158
$951,380
$1,150,002
$1,429,171
PERSON
NC
$467,128
$597,988
$722,848
$898,344
LINCOLN
NE
$400,243
$512,363
$619,360
$769,699
LOGAN
NE
$400,243
$512,363
$619,360
$769,699
MCPHERSON
NE
$400,243
$512,363
$619,360
$769,699
HILLSBOROUGH
NH
$397,058
$508,301
$614,421
$763,560
ROCKINGHAM
NH
$711,308
$910,622
$1,100,704
$1,367,918
STRAFFORD
NH
$711,308
$910,622
$1,100,704
$1,367,918
BERGEN
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
BURLINGTON
NJ
$440,586
$564,015
$681,766
$847,292
CAMDEN
NJ
$440,586
$564,015
$681,766
$847,292
CAPE MAY
NJ
$452,264
$578,971
$699,861
$869,725
ESSEX
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
GLOUCESTER
NJ
$440,586
$564,015
$681,766
$847,292
HUDSON
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
HUNTERDON
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
MIDDLESEX
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
MONMOUTH
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
MORRIS
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
OCEAN
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
PASSAIC
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
SALEM
NJ
$440,586
$564,015
$681,766
$847,292
SOMERSET
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
SUSSEX
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
UNION
NJ
$896,220
$1,147,555
$1,387,051
$1,723,826
LOS ALAMOS
NM
$489,422
$626,560
$757,328
$941,225
SANTA FE
NM
$432,093
$553,168
$668,611
$830,952
TAOS
NM
$390,689
$500,131
$604,543
$751,328
CARSON CITY
NV
$414,045
$530,042
$640,685
$796,240
DOUGLAS
NV
$525,519
$672,765
$813,227
$1,010,602
STOREY
NV
$493,669
$631,961
$763,929
$949,349
WASHOE
NV
$493,669
$631,961
$763,929
$949,349
BRONX
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
KINGS
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
NASSAU
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
Bulletin No. 2022–16
1023
April 18, 2022
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
NEW YORK
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
PUTNAM
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
QUEENS
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
RICHMOND
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
ROCKLAND
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
SUFFOLK
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
WESTCHESTER
NY
$896,220
$1,147,555
$1,387,051
$1,723,826
DELAWARE
OH
$405,552
$519,149
$627,576
$779,900
FAIRFIELD
OH
$405,552
$519,149
$627,576
$779,900
FRANKLIN
OH
$405,552
$519,149
$627,576
$779,900
HOCKING
OH
$405,552
$519,149
$627,576
$779,900
LICKING
OH
$405,552
$519,149
$627,576
$779,900
MADISON
OH
$405,552
$519,149
$627,576
$779,900
MORROW
OH
$405,552
$519,149
$627,576
$779,900
PERRY
OH
$405,552
$519,149
$627,576
$779,900
PICKAWAY
OH
$405,552
$519,149
$627,576
$779,900
UNION
OH
$405,552
$519,149
$627,576
$779,900
BENTON
OR
$445,895
$570,800
$689,983
$857,493
CLACKAMAS
OR
$552,060
$706,738
$854,262
$1,061,654
CLATSOP
OR
$403,428
$516,471
$624,252
$775,838
COLUMBIA
OR
$552,060
$706,738
$854,262
$1,061,654
DESCHUTES
OR
$525,519
$672,765
$813,227
$1,010,602
HOOD RIVER
OR
$553,122
$708,077
$855,924
$1,063,731
MULTNOMAH
OR
$552,060
$706,738
$854,262
$1,061,654
WASHINGTON
OR
$552,060
$706,738
$854,262
$1,061,654
YAMHILL
OR
$552,060
$706,738
$854,262
$1,061,654
BUCKS
PA
$440,586
$564,015
$681,766
$847,292
CHESTER
PA
$440,586
$564,015
$681,766
$847,292
DELAWARE
PA
$440,586
$564,015
$681,766
$847,292
MONTGOMERY
PA
$440,586
$564,015
$681,766
$847,292
PHILADELPHIA
PA
$440,586
$564,015
$681,766
$847,292
PIKE
PA
$896,220
$1,147,555
$1,387,051
$1,723,826
BRISTOL
RI
$546,752
$699,953
$846,046
$1,051,453
KENT
RI
$546,752
$699,953
$846,046
$1,051,453
NEWPORT
RI
$546,752
$699,953
$846,046
$1,051,453
PROVIDENCE
RI
$546,752
$699,953
$846,046
$1,051,453
WASHINGTON
RI
$546,752
$699,953
$846,046
$1,051,453
April 18, 2022
1024
Bulletin No. 2022–16
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
BERKELEY
SC
$437,401
$559,953
$676,827
$841,153
CHARLESTON
SC
$437,401
$559,953
$676,827
$841,153
DORCHESTER
SC
$437,401
$559,953
$676,827
$841,153
CANNON
TN
$641,239
$820,889
$992,277
$1,233,180
CHEATHAM
TN
$641,239
$820,889
$992,277
$1,233,180
DAVIDSON
TN
$641,239
$820,889
$992,277
$1,233,180
DICKSON
TN
$641,239
$820,889
$992,277
$1,233,180
MACON
TN
$641,239
$820,889
$992,277
$1,233,180
MAURY
TN
$641,239
$820,889
$992,277
$1,233,180
ROBERTSON
TN
$641,239
$820,889
$992,277
$1,233,180
RUTHERFORD
TN
$641,239
$820,889
$992,277
$1,233,180
SMITH
TN
$641,239
$820,889
$992,277
$1,233,180
SUMNER
TN
$641,239
$820,889
$992,277
$1,233,180
TROUSDALE
TN
$641,239
$820,889
$992,277
$1,233,180
WILLIAMSON
TN
$641,239
$820,889
$992,277
$1,233,180
WILSON
TN
$641,239
$820,889
$992,277
$1,233,180
ATASCOSA
TX
$415,107
$531,381
$642,347
$798,271
BANDERA
TX
$415,107
$531,381
$642,347
$798,271
BASTROP
TX
$445,895
$570,800
$689,983
$857,493
BEXAR
TX
$415,107
$531,381
$642,347
$798,271
CALDWELL
TX
$445,895
$570,800
$689,983
$857,493
COLLIN
TX
$416,168
$532,766
$644,008
$800,348
COMAL
TX
$415,107
$531,381
$642,347
$798,271
DALLAS
TX
$416,168
$532,766
$644,008
$800,348
DENTON
TX
$416,168
$532,766
$644,008
$800,348
ELLIS
TX
$416,168
$532,766
$644,008
$800,348
GUADALUPE
TX
$415,107
$531,381
$642,347
$798,271
HAYS
TX
$445,895
$570,800
$689,983
$857,493
HUNT
TX
$416,168
$532,766
$644,008
$800,348
JOHNSON
TX
$416,168
$532,766
$644,008
$800,348
KAUFMAN
TX
$416,168
$532,766
$644,008
$800,348
KENDALL
TX
$415,107
$531,381
$642,347
$798,271
MEDINA
TX
$415,107
$531,381
$642,347
$798,271
PARKER
TX
$416,168
$532,766
$644,008
$800,348
ROCKWALL
TX
$416,168
$532,766
$644,008
$800,348
TARRANT
TX
$416,168
$532,766
$644,008
$800,348
TRAVIS
TX
$445,895
$570,800
$689,983
$857,493
WILLIAMSON
TX
$445,895
$570,800
$689,983
$857,493
Bulletin No. 2022–16
1025
April 18, 2022
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
WILSON
TX
$415,107
$531,381
$642,347
$798,271
WISE
TX
$416,168
$532,766
$644,008
$800,348
BOX ELDER
UT
$596,649
$763,837
$923,269
$1,147,417
DAVIS
UT
$596,649
$763,837
$923,269
$1,147,417
JUAB
UT
$469,251
$600,711
$726,125
$902,406
MORGAN
UT
$596,649
$763,837
$923,269
$1,147,417
RICH
UT
$412,983
$528,704
$639,069
$794,209
SALT LAKE
UT
$483,052
$618,390
$747,497
$928,947
SUMMIT
UT
$896,220
$1,147,555
$1,387,051
$1,723,826
TOOELE
UT
$483,052
$618,390
$747,497
$928,947
UTAH
UT
$469,251
$600,711
$726,125
$902,406
WASATCH
UT
$896,220
$1,147,555
$1,387,051
$1,723,826
WASHINGTON
UT
$444,833
$569,462
$688,367
$855,462
WEBER
UT
$596,649
$763,837
$923,269
$1,147,417
ALBEMARLE
VA
$424,661
$543,613
$657,117
$816,642
ALEXANDRIA CITY
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
AMELIA
VA
$494,731
$633,346
$765,545
$951,426
ARLINGTON
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
CHARLES CITY
VA
$494,731
$633,346
$765,545
$951,426
CHARLOTTESVILLE
VA
$424,661
$543,613
$657,117
$816,642
CHESAPEAKE CITY
VA
$451,203
$577,632
$698,199
$867,694
CHESTERFIELD
VA
$494,731
$633,346
$765,545
$951,426
CLARKE
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
COLONIAL HEIGHT
VA
$494,731
$633,346
$765,545
$951,426
CULPEPER
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
DINWIDDIE
VA
$494,731
$633,346
$765,545
$951,426
FAIRFAX
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
FAIRFAX CITY
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
FALLS CHURCH CI
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
FAUQUIER
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
FLUVANNA
VA
$424,661
$543,613
$657,117
$816,642
FRANKLIN CITY
VA
$451,203
$577,632
$698,199
$867,694
FREDERICKSBURG
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
GLOUCESTER
VA
$451,203
$577,632
$698,199
$867,694
GOOCHLAND
VA
$494,731
$633,346
$765,545
$951,426
GREENE
VA
$424,661
$543,613
$657,117
$816,642
HAMPTON CITY
VA
$451,203
$577,632
$698,199
$867,694
HANOVER
VA
$494,731
$633,346
$765,545
$951,426
HENRICO
VA
$494,731
$633,346
$765,545
$951,426
April 18, 2022
1026
Bulletin No. 2022–16
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
HOPEWELL CITY
VA
$494,731
$633,346
$765,545
$951,426
ISLE OF WIGHT
VA
$451,203
$577,632
$698,199
$867,694
JAMES CITY
VA
$451,203
$577,632
$698,199
$867,694
KING AND QUEEN
VA
$494,731
$633,346
$765,545
$951,426
KING WILLIAM
VA
$494,731
$633,346
$765,545
$951,426
LANCASTER
VA
$408,737
$523,257
$632,469
$786,039
LOUDOUN
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
MADISON
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
MANASSAS CITY
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
MANASSAS PARK C
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
MATHEWS
VA
$451,203
$577,632
$698,199
$867,694
NELSON
VA
$424,661
$543,613
$657,117
$816,642
NEW KENT
VA
$494,731
$633,346
$765,545
$951,426
NEWPORT NEWS CI
VA
$451,203
$577,632
$698,199
$867,694
NORFOLK CITY
VA
$451,203
$577,632
$698,199
$867,694
PETERSBURG CITY
VA
$494,731
$633,346
$765,545
$951,426
POQUOSON CITY
VA
$451,203
$577,632
$698,199
$867,694
PORTSMOUTH CITY
VA
$451,203
$577,632
$698,199
$867,694
POWHATAN
VA
$494,731
$633,346
$765,545
$951,426
PRINCE GEORGE
VA
$494,731
$633,346
$765,545
$951,426
PRINCE WILLIAM
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
RAPPAHANNOCK
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
RICHMOND CITY
VA
$494,731
$633,346
$765,545
$951,426
SOUTHAMPTON
VA
$451,203
$577,632
$698,199
$867,694
SPOTSYLVANIA
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
STAFFORD
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
SUFFOLK CITY
VA
$451,203
$577,632
$698,199
$867,694
SUSSEX
VA
$494,731
$633,346
$765,545
$951,426
VIRGINIA BEACH
VA
$451,203
$577,632
$698,199
$867,694
WARREN
VA
$896,220
$1,147,555
$1,387,051
$1,723,826
WILLIAMSBURG CI
VA
$451,203
$577,632
$698,199
$867,694
YORK
VA
$451,203
$577,632
$698,199
$867,694
CHITTENDEN
VT
$401,305
$513,748
$620,975
$771,730
FRANKLIN
VT
$401,305
$513,748
$620,975
$771,730
GRAND ISLE
VT
$401,305
$513,748
$620,975
$771,730
CLARK
WA
$552,060
$706,738
$854,262
$1,061,654
ISLAND
WA
$472,436
$604,819
$731,064
$908,545
KING
WA
$822,782
$1,053,299
$1,273,200
$1,582,279
KITSAP
WA
$459,696
$588,479
$711,354
$884,034
Bulletin No. 2022–16
1027
April 18, 2022
County Name
State
One-Unit
Limit
Two-Unit
Limit
Three-Unit
Limit
Four-Unit
Limit
PIERCE
WA
$822,782
$1,053,299
$1,273,200
$1,582,279
SAN JUAN
WA
$459,696
$588,479
$711,354
$884,034
SKAGIT
WA
$437,401
$559,953
$676,827
$841,153
SKAMANIA
WA
$552,060
$706,738
$854,262
$1,061,654
SNOHOMISH
WA
$822,782
$1,053,299
$1,273,200
$1,582,279
THURSTON
WA
$440,586
$564,015
$681,766
$847,292
WHATCOM
WA
$474,559
$607,497
$734,341
$912,607
PIERCE
WI
$414,045
$530,042
$640,685
$796,240
ST. CROIX
WI
$414,045
$530,042
$640,685
$796,240
JEFFERSON
WV
$896,220
$1,147,555
$1,387,051
$1,723,826
SHERIDAN
WY
$452,264
$578,971
$699,861
$869,725
TETON
WY
$896,220
$1,147,555
$1,387,051
$1,723,826
GUAM
GU
$520,210
$665,980
$805,010
$1,000,401
NORTHERN ISLAND
MP
$484,114
$619,729
$749,112
$930,978
SAIPAN
MP
$488,361
$625,176
$755,713
$939,148
TINIAN
MP
$491,546
$629,284
$760,652
$945,287
CULEBRA
PR
$491,546
$629,284
$760,652
$945,287
ST. JOHN ISLAND
VI
$575,416
$736,649
$890,404
$1,106,566
ST. THOMAS ISLA
VI
$411,922
$527,319
$637,408
$792,178
$388,362
$497,269
$601,034
$746,989
All other areas - 2820 counties
(floor):
.02 The nationwide average purchase
price (for use in the housing cost/income
ratio for new and existing residences) is
$368,500.
SECTION 5. EFFECT ON OTHER
DOCUMENTS
Rev. Proc. 2021-17 is obsolete except
as provided in section 6 of this revenue
procedure.
April 18, 2022
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 30, 2022,
and ends on the date as of which the safe
1028
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. 2021-17, with respect to bonds
sold, or for mortgage credit certificates
issued with respect to bond authority
exchanged, before April 29, 2022, if the
Bulletin No. 2022–16
commitments to provide financing or issue mortgage credit certificates are made
on or before May 29, 2022.
.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 30, 2022,
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. 2021-17 with respect to bonds sold,
or for mortgage credit certificates issued
with respect to bond authority exchanged,
before April 29, 2022, if the commitments
to provide financing or issue mortgage
credit certificates are made on or before
May 29, 2022.
Bulletin No. 2022–16
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 §§ 143(e) and 25(c). The collection of
information is required to obtain the benefit of using revisions to FHA loan limits
1029
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 8. DRAFTING
INFORMATION
The principal authors of this revenue
procedure are Jian H. Grant and David
White of the Office of Associate Chief
Counsel (Financial Institutions & Products). For further information regarding
this revenue procedure contact Mr. White
at (202) 317-4562 (not a toll-free number).
April 18, 2022
Definition of Terms
Revenue rulings and revenue procedures
(hereinafter referred to as “rulings”) that
have an effect on previous rulings use the
following defined terms to describe the
effect:
Amplified describes a situation where
no change is being made in a prior published position, but the prior position is
being extended to apply to a variation of
the fact situation set forth therein. Thus, if
an earlier ruling held that a principle applied to A, and the new ruling holds that
the same principle also applies to B, the
earlier ruling is amplified. (Compare with
modified, below).
Clarified is used in those instances
where the language in a prior ruling is being made clear because the language has
caused, or may cause, some confusion. It
is not used where a position in a prior ruling is being changed.
Distinguished describes a situation
where a ruling mentions a previously published ruling and points out an essential
difference between them.
Modified is used where the substance
of a previously published position is being
changed. Thus, if a prior ruling held that a
principle applied to A but not to B, and the
new ruling holds that it applies to both A
and B, the prior ruling is modified because
it corrects a published position. (Compare
with amplified and clarified, above).
Obsoleted describes a previously published ruling that is not considered determinative with respect to future transactions.
This term is most commonly used in a ruling
that lists previously published rulings that
are obsoleted because of changes in laws or
regulations. A ruling may also be obsoleted
because the substance has been included in
regulations subsequently adopted.
Revoked describes situations where the
position in the previously published ruling
is not correct and the correct position is
being stated in a new ruling.
Superseded describes a situation where
the new ruling does nothing more than
restate the substance and situation of a
previously published ruling (or rulings).
Thus, the term is used to republish under
the 1986 Code and regulations the same
position published under the 1939 Code
and regulations. The term is also used
when it is desired to republish in a single
ruling a series of situations, names, etc.,
that were previously published over a
period of time in separate rulings. If the
new ruling does more than restate the substance of a prior ruling, a combination of
terms is used. For example, modified and
superseded describes a situation where the
substance of a previously published ruling
is being changed in part and is continued
without change in part and it is desired to
restate the valid portion of the previously published ruling in a new ruling that is
self contained. In this case, the previously
published ruling is first modified and then,
as modified, is superseded.
Supplemented is used in situations in
which a list, such as a list of the names of
countries, is published in a ruling and that
list is expanded by adding further names
in subsequent rulings. After the original
ruling has been supplemented several
times, a new ruling may be published that
includes the list in the original ruling and
the additions, and supersedes all prior rulings in the series.
Suspended is used in rare situations to
show that the previous published rulings
will not be applied pending some future
action such as the issuance of new or
amended regulations, the outcome of cases in litigation, or the outcome of a Service study.
Abbreviations
The following abbreviations in current
use and formerly used will appear in
material published in the Bulletin.
A—Individual.
Acq.—Acquiescence.
B—Individual.
BE—Beneficiary.
BK—Bank.
B.T.A.—Board of Tax Appeals.
C—Individual.
C.B.—Cumulative Bulletin.
CFR—Code of Federal Regulations.
CI—City.
COOP—Cooperative.
Ct.D.—Court Decision.
CY—County.
D—Decedent.
DC—Dummy Corporation.
DE—Donee.
Del. Order—Delegation Order.
DISC—Domestic International Sales Corporation.
DR—Donor.
E—Estate.
EE—Employee.
E.O.—Executive Order.
ER—Employer.
Bulletin No. 2022–16
ERISA—Employee Retirement Income Security Act.
EX—Executor.
F—Fiduciary.
FC—Foreign Country.
FICA—Federal Insurance Contributions Act.
FISC—Foreign International Sales Company.
FPH—Foreign Personal Holding Company.
F.R.—Federal Register.
FUTA—Federal Unemployment Tax Act.
FX—Foreign corporation.
G.C.M.—Chief Counsel’s Memorandum.
GE—Grantee.
GP—General Partner.
GR—Grantor.
IC—Insurance Company.
I.R.B.—Internal Revenue Bulletin.
LE—Lessee.
LP—Limited Partner.
LR—Lessor.
M—Minor.
Nonacq.—Nonacquiescence.
O—Organization.
P—Parent Corporation.
PHC—Personal Holding Company.
PO—Possession of the U.S.
PR—Partner.
PRS—Partnership.
i
PTE—Prohibited Transaction Exemption.
Pub. L.—Public Law.
REIT—Real Estate Investment Trust.
Rev. Proc.—Revenue Procedure.
Rev. Rul.—Revenue Ruling.
S—Subsidiary.
S.P.R.—Statement of Procedural Rules.
Stat.—Statutes at Large.
T—Target Corporation.
T.C.—Tax Court.
T.D.—Treasury Decision.
TFE—Transferee.
TFR—Transferor.
T.I.R.—Technical Information Release.
TP—Taxpayer.
TR—Trust.
TT—Trustee.
U.S.C.—United States Code.
X—Corporation.
Y—Corporation.
Z—Corporation.
April 18, 2022
Numerical Finding List1
Revenue Procedures:—Continued
Bulletin 2022–16
2022-20, 2022-14 I.R.B. 945
2022-21, 2022-16 I.R.B. 1015
Announcements:
2022-3, 2022-8 I.R.B. 788
2022-4, 2022-9 I.R.B. 789
2022-5, 2022-11 I.R.B. 825
2022-6, 2022-13 I.R.B. 934
2022-7, 2022-15 I.R.B. 946
AOD:
2022-1, 2022-06 I.R.B. 466
2022-2, 2022-12 I.R.B. 903
Notices:
2022-1, 2022-02 I.R.B. 304
2022-2, 2022-02 I.R.B. 304
2022-3, 2022-02 I.R.B. 308
2022-4, 2022-02 I.R.B. 309
2022-5, 2022-05 I.R.B. 457
2022-6, 2022-05 I.R.B. 460
2022-7, 2022-06 I.R.B. 469
2022-8, 2022-07 I.R.B. 491
2022-9, 2022-10 I.R.B. 811
2022-10, 2022-10 I.R.B. 815
2022-12, 2022-12 I.R.B. 906
2022-11, 2022-14 I.R.B. 939
2022-13, 2022-14 I.R.B. 940
2022-14, 2022-14 I.R.B. 941
Revenue Rulings:
2022-1, 2022-02 I.R.B. 301
2022-2, 2022-04 I.R.B. 451
2022-3, 2022-06 I.R.B. 467
2022-4, 2022-10 I.R.B. 790
2022-5, 2022-10 I.R.B. 792
2022-6, 2022-12 I.R.B. 904
2022-7, 2022-14 I.R.B. 935
2022-8, 2022-14 I.R.B. 936
Treasury Decisions:
9959, 2022-03 I.R.B. 328
9961, 2022-03 I.R.B. 430
9960, 2022-07 I.R.B. 481
9962, 2022-11 I.R.B. 823
Proposed Regulations:
REG-118250-20, 2022-07 I.R.B. 753
REG-105954-20, 2022-11 I.R.B. 828
REG-114209-21, 2022-11 I.R.B. 898
REG-114209-21, 2022-11 I.R.B. 898
REG-121508-18, 2022-15 I.R.B. 996
Revenue Procedures:
2022-1, 2022-01 I.R.B. 1
2022-2, 2022-01 I.R.B. 120
2022-3, 2022-01 I.R.B. 144
2022-4, 2022-01 I.R.B. 161
2022-5, 2022-01 I.R.B. 256
2022-7, 2022-01 I.R.B. 297
2022-9, 2022-02 I.R.B. 310
2022-11, 2022-03 I.R.B. 449
2022-8, 2022-04 I.R.B. 451
2022-10, 2022-06 I.R.B. 473
2022-13, 2022-06 I.R.B. 477
2022-12, 2022-07 I.R.B. 494
2022-14, 2022-07 I.R.B. 502
2022-15, 2022-13 I.R.B. 908
2022-17, 2022-13 I.R.B. 930
2022-17, 2022-13 I.R.B. 933
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2020–27 through 2020–52 is in Internal Revenue Bulletin
2020–52, dated December 27, 2021.
1
April 18, 2022
ii
Bulletin No. 2022–16
Finding List of Current Actions on
Previously Published Items1
Bulletin 2022–16
A cumulative list of all revenue rulings, revenue procedures, Treasury decisions, etc., published in Internal Revenue Bulletins 2020–27 through 2020–52 is in Internal Revenue Bulletin
2020–52, dated December 27, 2021.
1
Bulletin No. 2022–16
iii
April 18, 2022
Internal Revenue Service
Washington, DC 20224
Official Business
Penalty for Private Use, $300
INTERNAL REVENUE BULLETIN
The Introduction at the beginning of this issue describes the purpose and content of this publication. The weekly Internal Revenue
Bulletins are available at www.irs.gov/irb/.
We Welcome Comments About the Internal Revenue Bulletin
If you have comments concerning the format or production of the Internal Revenue Bulletin or suggestions for improving it,
we would be pleased to hear from you. You can email us your suggestions or comments through the IRS Internet Home Page
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This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.