For owners of tax credit properties
Year 15 dates and prices for your property
The compliance period, the investor's exit, the right of first refusal, a qualified contract and the refinance all run on statutory clocks and formulas. Put in your property's numbers and see where it stands.
Year Fifteen is an independent site run by Janover Capital LLC, a private company. It is not affiliated with HUD, USDA, the IRS, any state housing finance agency or any government agency.
- Credit period
- 2012 to 2021, plus a catch-up in 2022 for any first-year shortfall
- Compliance period ends
- December 31, 2026
- Recapture exposure ends
- With the compliance period, December 31, 2026
- Qualified contract request
- Any time after year 14, so from January 1, 2026, unless the agreement or state law rules it out. The agency then has one year to find a buyer.
- Earliest exercise of a right of first refusal, if one was granted
- After December 31, 2026
- Extended use runs to at least
- December 31, 2041
- Keep first-year records until
- At least 6 years after the due date of the 2026 return
Example: placed in service in 2012, credits from 2012. Assumes calendar tax years and allocations after 1989, when extended use began. Not tax or legal advice.
Compliance timeline
Credit period, compliance period, qualified contract window, extended use and record retention dates from one placed-in-service year.
Next available unit check
Whether an over-income household crosses 140% of the limit (170% deep rent skewed), including income averaging units.
Exit and refinance calculator
Right of first refusal minimum price, a qualified contract price and the loan restricted rents support.
Why the dates matter more than the rents
Many Year 15 questions turn on a date or a formula in section 42. When the compliance period ends decides when recapture stops. When the owner can ask for a qualified contract decides whether extended use can end early. The statute sets the lowest price a right of first refusal can carry, and that floor ignores the investor’s equity; the partnership agreement sets the actual price. Get those right first, then price the refinance.
Every tool here cites the subsection it applies and runs in your browser on the numbers you enter. The Year 15 property tables come from HUD’s national LIHTC database, by state and the year each property’s compliance period ends.
States with the most properties reaching Year 15 in 2026-2028
| State | Properties |
|---|---|
| California | 639 |
| New Jersey | 320 |
| New York | 319 |
| Texas | 156 |
| Ohio | 141 |
| Georgia | 129 |
| Virginia | 127 |
| North Carolina | 116 |
| Florida | 115 |
| Washington | 110 |
Questions people ask
What happens to a LIHTC property after Year 15?
The 15-year compliance period ends, so credit recapture no longer applies, but the extended use agreement keeps the property affordable for at least 15 more years. The investor partner claimed its last credits years earlier, so this is the point where investor buyouts, rights of first refusal, sales and refinancings come up.
Who runs Year Fifteen?
Year Fifteen is operated by Janover Capital LLC, a private commercial mortgage capital markets advisory firm. It is not a government agency and is not affiliated with HUD, USDA, the IRS, any state housing finance agency or any government agency, and nothing here is tax or legal advice.
Year 15 coming up?
Send the property to the Janover Capital desk for refinance, buyout or resyndication debt.