Opportunity Zones are the talk of tax season: a brand new program encouraging investment in underserved areas by offering tax relief to a broad swath of investors. Ferox Strategies clients including Brooks in South San Antonio are on the cutting edge of this new program, bringing new interest to a redeveloping former military base. But, are Opportunity Zones right for you? Here to help is Ferox Strategies Chief of Staff Lucia Alonzo with a detailed overview of 2019’s top real estate investment.
The bipartisan-designed Opportunity Zone program was created in 2017’s Tax Cuts and Jobs Act and is now gaining interest in the investment community. Aimed at promoting long-term investment, economic growth, and community benefits, Opportunity Zones allow investors to reduce or even avoid capital gains taxes by re-investing gains in poverty-stricken neighborhoods. When compared to similar federal programs that have come before, Opportunity Zones offer many more eligible investment locations and welcome a broader range of investors. Opportunity Zones were also chosen by state and local officials within federal parameters to best target the economic boost from Opportunity Zone investors.