Somerset County, New Jersey · Year 15 and Year 30
Year 15 and Year 30 tax credit properties in Somerset County, New Jersey
11 monitored tax credit properties in Somerset County (695 low-income units) reach the end of the 15-year compliance period between 2022 and 2034, and 3 (56 low-income units) reach the 30-year federal minimum for extended use. The busiest Year 15 is 2025, with 4. Most are in Franklin Twp., Somerset, Somerville.
14 properties.
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Year 15 window compliance period ends 2022 to 2034 (11)
| Property | City | Low-income / total units | Placed in service | Compliance period ends | Credit | Bonds | HUD notes |
|---|---|---|---|---|---|---|---|
| Berry Street Commons | Franklin Twp. | 94 / 94 | 2009 | 2023 | No | ||
| Franklin Blvd. Commons Urban Renewal Assoc. | Somerset | 66 / 66 | 2011 | 2025 | |||
| Franklin Boulevard Commons | Franklin Twp. | 66 / 66 | 2011 | 2025 | TCEP | No | |
| Parkside Family Housing | Somerset | 70 / 70 | 2011 | 2025 | TCEP | No | |
| Parkside Senior Housing | Franklin Twp. | 70 / 70 | 2011 | 2025 | No | ||
| Pluckemin Park | Bedminster Twp. | 50 / 50 | 2012 | 2026 | No | ||
| Independence Crossing | Somerset | 64 / 64 | 2013 | 2027 | No | ||
| Valley Brook Village | Basking Ridge | 61 / 62 | 2013 | 2027 | |||
| Valley Brook Village #1113 | Basking Ridge | 61 / 61 | 2013 | 2027 | |||
| Willows at Orchard Road | Montgomery Township | 40 / 40 | 2016 | 2030 | No | ||
| Westering Place/amwell Commons #1522 | Hillsborough | 53 / 53 | 2018 | 2032 | 9% | nonprofit sponsor |
Year 30 window 30-year minimum extended use ends 2022 to 2034 (3)
| Property | City | Low-income / total units | Placed in service | 30-year minimum ends | Credit | Bonds | HUD notes |
|---|---|---|---|---|---|---|---|
| Peapack/gladstone Family Housing | Peapack | 20 / 20 | 1999 | 2028 | No | ||
| Somerset County Sptv Housing - Litc #676 | Somerville | 18 / 18 | 2005 | 2034 | |||
| Somerset County Supportive Housing | Somerville | 18 / 18 | 2005 | 2034 | 9% |
Source: HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026), monitored properties placed in service 2008-2020 and 1993-2005. "Compliance period ends" is the placed-in-service year + 14 and "30-year minimum ends" is + 29; both are a year later if the owner deferred the credit period, and HUD reports one year per project. For Year 30 properties HUD reports a longer affordability term for 0 of 3; check the recorded extended use agreement for the rest.
Using this list
Properties past Year 15 have no recapture exposure left, so investor exits, general partner buyouts, rights of first refusal and resyndications with 4% credits cluster here. The rent and income restrictions stay in place for the extended use period. Estimate a qualified contract price with the qualified contract tool, and read the Year 15 exits guide for the rules.
More Somerset County data
- Somerset County 2026 income and rent limitsHUD MTSP
- New Jersey Year 15 and Year 30 listall counties
- QCT and DDA lookup2027 lists
- All statescompare
Buying or recapitalizing a Year 15 property?
Acquisition, bond, bridge and permanent debt for Somerset County buyouts and resyndications.