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San Mateo: BOE-267-L3

San Mateo County: BOE-267-L3

San Mateo: BOE-267-L3 REV.02 (5-19) for 2021

Welfare Exemption Supplemental Affidavit, Households Exceeding Low-Income Limits —"Over-Income" Tenant Data (140 percent Ami)

This affidavit must be filed when seeking the welfare exemption on lower income rental housing property under the provisions of Revenue and Taxation Code sections 214(g)(2)(A)(iii) and 259.15. These provisions are only applicable to lower income rental housing properties eligible for and receiving federal low-income housing tax credits (LIHTC) pursuant to Internal Revenue Code Section 42 and owned and operated by a nonprofit organization, eligible limited liability company, or limited partnership with an eligible managing general partner. Under these provisions, the welfare exemption continues to be available where the occupant(s) of a unit originally met the lower income threshold on the lien date in the fiscal year in which the occupancy of the unit commenced, but the household income of the occupants increased in subsequent years above the lower income limits, as long as the income does not exceed 140 percent of area median income (AMI), adjusted for family size ("over-income" tenants), and the unit continues to be rent restricted.

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Important Additional Taxpayer Information Provided by San Mateo County

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Download Form BOE-267-L3

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