What Is an Opportunity Zone?
An opportunity zone is defined as a low-income or economically-distressed community where new investments may be considered for tax benefits in order to promote economic development and bring general prosperity back to the area. To learn more, visit the Opportunity Zones Database.
How Do Opportunity Zones Spur Development?
Opportunity zones were designed to spur economic development by providing tax incentives to investors. By participating in a qualified opportunity fund, you can be eligible for some of the benefits that opportunity zone legislation created. Depending on the length of your investment, your tax benefits could increase. Contact Galles Properties in Pagosa Springs to learn more about this investment opportunity.
Advantages of Investing in an Opportunity Zone
In order to help broaden the areas of general prosperity into those communities which have not been a part of positive economic growth over the past few years, the government has created incentives for investors to get involved in a variety of opportunity zones. Three of the biggest benefits are a deferral, a reduction of tax on capital gain investments, and a tax-free appreciation. To learn more about each of these benefits, visit Choose Colorado.