Annual Household Income definition

Annual Household Income means the gross income of a person, together with the gross income of all persons who intend to permanently reside with such person in the Development to be financed by the Corporation, as of the date of occupancy shown on the income certification promulgated by the Corporation.

Annual Household Income means the combined gross income for all adult persons living in a dwelling unit as calculated for the purpose of the Section 8 program under the United States Housing Act of 1937, as amended, or its successor.

Annual Household Income means the gross income of a person, together with the gross income of all persons who intend to permanently reside with such person in the

Examples of Annual Household Income in a sentence

• Forty percent of the residential units in the Development shall be occupied by or reserved for occupancy by a Family whose Annual Household Income does not exceed 60 percent of the area median income limits adjusted for Family size (the 40/60 set-aside).

• Total Annual Household Income from all Sources Enter the number from item (L).

• For Developments financed solely through the issuance of Taxable Bonds or refundings of Tax-exempt Bonds originally issued under section 103(b)(4)(A) of the Internal Revenue Code of 1954, as amended, 20 percent of the residential units in the Development shall be occupied by or reserved for occupancy by a Family whose Annual Household Income does not exceed 80 percent of the area median income limits adjusted for Family size (the 20/80 set-aside).

• Row (K) Row (L)Enter the greater of the total in Column (I) or (J) Total Annual Household Income From all Sources Add (E) and (K) and enter the total HOUSEHOLD CERTIFICATION AND SIGNATURES After all verifications of income and/or assets have been received and calculated, each household member age 18 or older must sign and date the Tenant Income Certification.

• The Maximum Annual Household Income is determined through the use of the formula: MAXI = (AMI * DAL * HAF).

More Definitions of Annual Household Income

Annual Household Income means the gross income of a person, together with the gross income of all persons who intend to permanently reside with such person in the Development to be financed by Florida Housing, as of the date of occupancy shown on the Income Certification promulgated by Florida Housing.

Annual Household Income means the combined gross income of all adult members of a Household, as shown on line 150 of the preceding year’s T1 General Income Tax and Benefit return;

Annual Household Income means the total income from all sources received for the prior calendar year by all members of the Household, including, but not limited to, all gross income from full-time employment, part-time employment, self-employment, babysitting/caretaking, public assistance, social security, supplemental security income, pension, disability compensation, unemployment compensation, alimony, child support and interest derived from all assets wherever located throughout the world. Annual Household Income shall not include any rental assistance or food stamp payments. Such income shall be evidenced by the Household's federal tax return for such year and such other evidence as the Board or Monitor may require.

Annual Household Income means the aggregate annual income of a Household as determined by using the standards set forth in 24 CFR § 5.609, as may be amended, or as otherwise set forth by the Agency.

Annual Household Income means the total income from all sources during the last full calendar year, or the annual average of that total income during the last two calendar years, whichever is less, of a tenant and all members of the household who are residing in the tenant's dwelling unit when the tenant applies for protected tenancy, whether or not such income is subject to taxation by any taxing authority.

Annual Household Income means the aggregate of the annual income from all sources of all the members of a family;

Annual Household Income is defined in regulations at 24 CFR 5.609. The property manager is responsible for certifying annual household income for every household applying for a new lease, and for every household renewing their lease, before such leases can be signed. Guidance regarding calculation and certification of household income is available at 24 CFR 5.203(a)(1)(i), 24 CFR 92.203(a)(1)(i) and 24 CFR 5.617 (for persons with disabilities). Note that the regulations set the minimum standard for documentation. In some cases the City of Durham will require more. Households must continue to be income- eligible in order to continue to benefit from the rent reductions provided by the HOME program.