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Targeted area residences are defined in section 143(j)(1)(A) to include
residences in a qualified census tract. A “qualified census tract,”
according to section 143(j)(2)(A), is a census tract in which 70 percent or
more of the families have income that is 80 percent or less of the
statewide median family income. Section 143(j)(2)(B) of the Code provides
that the determination that a census tract is a “qualified census tract”
must be based on the most recent decennial census for which data are
available. Source: RP-2024-08 (irs.gov)
<https://www.irs.gov/pub/irs-drop/rp-24-08.pdf> (2024 Update)
**ALSO 1983 & 1995 Letters from HUD & IRS approving the following as areas
of chronic economic distress:
Allegany County -
Entire
Baltimore City - Entire
Baltimore County: The following areas of East Towson, Oella, West
Catonsville
Caroline County - Entire
Dorchester County - Entire
Garrett County - Entire
Kent County - Entire
Prince George's County: The following areas of Brentwood, Capitol Heights,
Colmar Manor, Fairmont Heights, Mount Ranier, North Brentwood, Seat Pleasant
Somerset County - Entire
Washington County: The following area of Hagerstown
Wicomico County: The following areas of QCT 0003 & QCT 0102** |