Opportunity Zones encourage investments in specific census tracts.
The City of Toledo has 17 Opportunity Zone Census Tracts that will retain federal designation until 2026. The following link provides a map of Toledo’s Opportunity Zone Census Tracts: https://development.ohio.gov/bs/bs_censustracts.htm
Opportunity Zones allow Investors to re-invest capital gains in an Opportunity Fund with the following tax incentives:
- Temporary tax deferral for capital gains
- Tax reduction on capital gains (5 to 7 years)
- Elimination of taxes on gains from Opportunity Zone Investments (if held for 10 years)
Consult your attorney or accountant to learn how to use an Opportunity Fund to invest in qualified properties.