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What are Opportunity Zones?

· economic development,bend real estate,opportunity zones,oregon land use

By: Rand Campbell

Opportunity Zones are a new economic development tool recently added to the federal tax code. There are 86 opportunity zones in Oregon, three of which are in Bend. The purpose of the new policy is to spur economic development and create jobs in economically distressed communities.

The policy provides tax incentives to investors who invest in real estate located in an opportunity zone. The tax incentives allow investors to defer federal taxes on recent capital gains, reduce those capital gains up to 15%, and pay as little as zero taxes on profits from the investment if it’s held over ten years.

More information about opportunity zones is available at https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions.

Rand Campbell is a law student at Willamette Law. When he graduates in 2019, Rand is interested in practicing land use law in Central and Eastern Oregon. After serving as an extern for the firm this past summer, Rand is now working for Van Vactor Law LLC as law clerk.

VV Law provides land use legal services in Deschutes County, Klamath County, Lake County, Crook County, Wasco County, and all of Eastern Oregon!

DISCLAIMER

The information on this blog is for general informational purposes only. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship. Nothing on this site should be taken as legal advice for any individual case or situation. This blog should not be used as a substitute for competent legal advice from an attorney licensed to practice law in your state.

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