Great information. I do want to offer a different perspective though. These programs were created to revitalize areas like where I grew up. But what has happened is developers buy property (like the two project areas in Fort Worth that recently went through this) and kick out over 1,000 folks, demolish the place and build either upscale living areas or high end shops. And Restaurants. This also raises the property value of everything around it, which increases their property taxes. We’ve seen homes that were 30k now worth over 250k, the folks living there can’t afford the taxes and lose their homes. So the very people this is designed to help end up getting hurt big time. And if you think it’s not your problem, we’ll just look at the homeless numbers in those same opportunity zones. At some point something will have to give
I'm a Democrat and this is one of the reasons I went from hating Trump to being quite supportive of his policies. Sure he's narcissistic and rude, but the man was fantastic as our president and leader.
Give credit where it's due. It was tim scott and corey booker who created this. But honestly it didn't help a lot of the communities they were targeting because big businesses utilized this incentive to build big businesses to attract usually outside professionals and displace a lot of the communities this act was targeted to help...
When you say that after 10 years its tax free, does that apply to both the original capital gains as well as the secondary capital gains of the opportunity zone?
While Operating and holding the QOZ do you get tax benefits in the business that is being operated in an Opportunity zone? Or is that just business as usual?
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Great information. I do want to offer a different perspective though. These programs were created to revitalize areas like where I grew up. But what has happened is developers buy property (like the two project areas in Fort Worth that recently went through this) and kick out over 1,000 folks, demolish the place and build either upscale living areas or high end shops. And Restaurants. This also raises the property value of everything around it, which increases their property taxes. We’ve seen homes that were 30k now worth over 250k, the folks living there can’t afford the taxes and lose their homes. So the very people this is designed to help end up getting hurt big time. And if you think it’s not your problem, we’ll just look at the homeless numbers in those same opportunity zones. At some point something will have to give
wow, great info
That’s sad… seems like no affordable housing is being build
Wow- this was super helpful! Finally a video that breaks everything down in terms I actually understand. Thanks for sharing!
I'm a Democrat and this is one of the reasons I went from hating Trump to being quite supportive of his policies. Sure he's narcissistic and rude, but the man was fantastic as our president and leader.
It didn’t really play out like this unfortunately.
Give credit where it's due. It was tim scott and corey booker who created this. But honestly it didn't help a lot of the communities they were targeting because big businesses utilized this incentive to build big businesses to attract usually outside professionals and displace a lot of the communities this act was targeted to help...
Very well made video! Excited to learn more about O-Zones.
Me too! It looks like they have created a site expounding more on Opportunity Zones. I found it very useful! opportunityzones101.com/
When you say that after 10 years its tax free, does that apply to both the original capital gains as well as the secondary capital gains of the opportunity zone?
While Operating and holding the QOZ do you get tax benefits in the business that is being operated in an Opportunity zone? Or is that just business as usual?
Are non real estate deals eligible for investment? If I want to invest in a start up/new energy company located within a Qualified Economic Zone?
Thanks PEG for sharing!
great video...thanks!
Yall took our monet we where already doing the work