Resale Price Calculation
Resale Price Formula: Original purchase price + percentage change in area median income (AMI) +
City approved capital improvement.
Area Median Income percentage change by year to 2014
Year of
2004
2005
Purchase
Percentag 2.21% 2.21%
e change
in AMI
2006
2007
2008
2009
2010
2011
2012
2013
2.21%
2.21%
2.21%
.3%
-2.3%
-4.6%
-6.1%
-4.2%
*Please note that a negative percentage change in AMI will result in 0% appreciation, it will not
depreciate the restricted resale price lower than the initial purchase price.
Resale Price Example:
Original Purchase Price: $300,000
Year of Purchase: 2005
Percentage change in AMI from 2005-2014: 2.21%
City-approved depreciated capital improvements: $10,000
$300,000 x 2.21% = $6,630
$300,000 + $6,630 + $10,000 = $316,630
Maximum Restricted Value Price = $316,630