3-004.02A2b Standards for Determining Costs

469 NAC 3-004.02A2b

The cost of interest or payments on mortgages or contract purchases, current taxes, and insurance may be allowed in the assistance budget as follows:

1. Mortgage or Purchase Contract: Interest and payments on the mortgage or purchase contract on the home may be included in the budget.

2. Taxes: Current taxes on the home occupied by the client may be allowed on a monthly prorated basis unless the payment of taxes is included in the monthly payment on the mortgage or contract purchase.

Taxes may be allowed only for the lot(s) on which the house stands. No allowance may be made for taxes on other lots owned by the applicant unless the taxes cannot be determined separately from the taxes for the lot(s) on which the home is located.

If taxes have been allowed in an earlier budget but not paid, they may not be included in the budget again.

3. Insurance: The amount of the homeowner's insurance is included in the budget on a prorated or lump sum basis, unless insurance is a part of the payment on the mortgage or purchase contract.

4. Total Cost: The total cost of home ownership must not exceed the maximum shelter allowance.