Lately, you may have heard a lot about Opportunity Zones in the news.
To give you the short answer on what an Opportunity Zone is here is how irs.gov defines it:
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment.
Sounds simple enough, right? Well, there are a lot more ins and outs to this federal economic development program.
To help you understand this program, how it works, what land qualifies as an opportunity zone and all the rules and regulations associated with it, CRER and Ashley Dillard, CCIM have created ChicagoOpportuityZones.com. This comprehensive website explains the Opportunity Zone incentive in the Tax Cut & Jobs Act of 2017, includes an interactive map that will show you all of the 181 Opportunity Zones in Cook County and is constantly being updated with news and updates on the program.
You will also find an extensive list of FAQs, links to resources from the IRS, federal legislation and other important Opportunity Zone information.
If you are interested in learning more about Opportunity Zones, looking to buy or sell in an Opportunity Zone, have questions about tax benefits or any other part of the program please visit ChicagoOpportunityZones.com or contact Ashley directly. Qualified Opportunity Fund investments are Ashley’s specialty. Not only can they diversify your portfolio potentially bringing higher returns, they can also help you make a positive difference in your community. Contact Ashley to discuss your goals and see if this investment strategy might benefit you.
The total number of census tracts certified as Opportunity Zones by the U.S. Treasury.
Potential unrealized capital gains eligible for Qualified Opportunity Fund investment and tax treatment.
Treasury Secretary Steven Mnuchin’s estimate of private capital that will flow into Opportunity Zones.