Income Category definition

Income Category means a category of income or gain for which a separate Income Tax rate is applicable (such as ordinary income, long-term capital gain to a noncorporate Member, “unrecaptured Section 1250 gain,” “qualified dividend income,” and “collectibles gain” (each as defined under Section 1(h) of the Code)).
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Income Category means the income category to be used to qualify Eligible Purchasers and determine the Affordable Sales Price for the Below Market Units.
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Income Category means Moderate-Income, Low-Income, and Very Low-Income household as defined in this section.
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Examples of Income Category in a sentence

  • The totals for Income Category and for Racial Data should each match with the Total Number Served.

  • Sale prices for the Below Market Units shall be the Affordable Sales Price for a household of the Household Size Appropriate for the Unit in the applicable Income Category at the time of sale, as determined by the City and Attachment 1.

  • Annualized "Year" Period Ended Borrower Statement Classification Actual Adjustment Normalized Rental Income (Category 1) Rental Income (Category 2) Rental Income (Category 3) Pass Throughs/Escalations Other Income Effective Gross Income $0.00 $0.00 $0.00 Normalized - Full year financial statements that have been reviewed by the Servicer.

  • Year Period Ended Borrower Statement Classifications Actual Adjustment Normalized Rental Income (Category 1) Rental Income (Category 2) Rental Income (Category 3) Pass-Throughs/Escalations Other Income Effective Gross Income $ - $ - $ - Normalized - Full year financial statements that have been reviewed by the Servicer.

  • The Below Market Units may initially be sold only to Eligible Purchasers of the applicable Income Category as solely determined by City and/or Administrator.


More Definitions of Income Category

Income Category means the income category to be used to qualify Eligible Households and determine the Affordable Sales Price for the BMR Units.
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Income Category means and refers to the following categories: Low-Income, Moderate-Income and Middle-Income, as those categories are further defined and set forth herein and in the Procedures Manual.
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Income Category means Extremely Low Income Household, Very Low Income Household, Lower Income Household, and Moderate Income Household.
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