rr-25-13.pdf

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Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments
Issued for Property

(Also Sections 42, 280G, 382, 467, 468, 482, 483, 1288, 7520, 7872.)

Rev. Rul. 2025-13

This revenue ruling provides various prescribed rates for federal income tax
purposes for July 2025 (the current month). Table 1 contains the short-term, mid-term,
and long-term applicable federal rates (AFR) for the current month for purposes of
section 1274(d) of the Internal Revenue Code. Table 2 contains the short-term, mid-
term, and long-term adjusted applicable federal rates (adjusted AFR) for the current
month for purposes of section 1288(b). Table 3 sets forth the adjusted federal long-
term rate and the long-term tax-exempt rate described in section 382(f). Table 4
contains the appropriate percentages for determining the low-income housing credit
described in section 42(b)(1) for buildings placed in service during the current month.
However, under section 42(b)(2), the applicable percentage for non-federally subsidized
new buildings placed in service after July 30, 2008, shall not be less than 9%. Table 5
contains the federal rate for determining the present value of an annuity, an interest for
life or for a term of years, or a remainder or a reversionary interest for purposes of
section 7520. Finally, Table 6 contains the blended annual rate for 2024 for purposes of
section 7872.

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REV. RUL. 2025-13 TABLE 1

Applicable Federal Rates (AFR) for July 2025

Period for Compounding
Annual Semiannual Quarterly Monthly

Short-term

AFR 4.12% 4.08% 4.06% 4.05%
110% AFR 4.54% 4.49% 4.47% 4.45%
120% AFR 4.96% 4.90% 4.87% 4.85%
130% AFR 5.37% 5.30% 5.27% 5.24%

Mid-term

AFR 4.19% 4.15% 4.13% 4.11%
110% AFR 4.62% 4.57% 4.54% 4.53%
120% AFR 5.04% 4.98% 4.95% 4.93%
130% AFR 5.47% 5.40% 5.36% 5.34%
150% AFR 6.33% 6.23% 6.18% 6.15%
175% AFR 7.39% 7.26% 7.20% 7.15%

Long-term

AFR 4.90% 4.84% 4.81% 4.79%
110% AFR 5.39% 5.32% 5.29% 5.26%
120% AFR 5.89% 5.81% 5.77% 5.74%
130% AFR 6.39% 6.29% 6.24% 6.21%

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REV. RUL. 2025-13 TABLE 2

Adjusted AFR for July 2025

Period for Compounding
Annual Semiannual Quarterly Monthly
Short-term
adjusted AFR 3.12% 3.10% 3.09% 3.08%

Mid-term
adjusted AFR 3.17% 3.15% 3.14% 3.13%

Long-term
adjusted AFR 3.71% 3.68% 3.66% 3.65%

REV. RUL. 2025-13 TABLE 3

Rates Under Section 382 for July 2025

Adjusted federal long-term rate for the current month 3.71%

Long-term tax-exempt rate for ownership changes during the
current month (the highest of the adjusted federal long-term
rates for the current month and the prior two months.) 3.71%

REV. RUL. 2025-13 TABLE 4

Appropriate Percentages Under Section 42(b)(1) for July 2025
Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized
new buildings placed in service after July 30, 2008, shall not be less than 9%.

Appropriate percentage for the 70% present value low-income
housing credit 8.06%

Appropriate percentage for the 30% present value low-income
housing credit 3.45%

REV. RUL. 2025-13 TABLE 5

4

Rate Under Section 7520 for July 2025

Applicable federal rate for determining the present value of an
annuity, an interest for life or a term of years, or a remainder or
reversionary interest 5.00%

REV. RUL. 2025-13 TABLE 6

Blended Annual Rate for 2025

Section 7872(e)(2) blended annual rate for 2025 4.22%