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The Opportunity Zone Map is brought to you by Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson. Click the map to learn more about specific #OZ locations available all over the state of Florida.
Opportunity Zones are designated by the U.S. Department of Treasury and offer tax breaks for investing in qualified areas. These areas are typically economically distressed.
Here’s why #OpportunityZones are attractive investments:
- Tax Deferral: If you invest capital gains into a Qualified Opportunity Fund (QOF) within 180 days of selling an asset, you can defer paying capital gains tax until you sell the QOF investment or December 31st, 2026 (whichever comes first).
- Partial Capital Gains Tax Elimination: If you hold the QOF investment for at least five years, you can eliminate a portion of the capital gains tax.
- Full Capital Gains Tax Elimination: Hold for seven years and you eliminate an even bigger chunk of the capital gains tax.
- Tax-Free Appreciation: If you hold the QOF investment for ten years and then sell it, any appreciation on the investment is completely tax-free.
Downtown Panama City is in an Opportunity Zone!
Here’s what to do next:
- Confirm Opportunity Zones: Search for Opportunity Zones in Panama City or the surrounding area using a resource like OpportunityDb.
- Research QOFs: Look into Qualified Opportunity Funds that invest in these designated areas.
- Talk to a Tax Professional: This is a complex area, so consult with a tax advisor to understand the specifics and determine if a QOF investment aligns with your financial goals.
Remember, even outside Opportunity Zones, Downtown Panama City is a good investment based on factors like property appreciation and market trends. We have many new things coming to Bay County, and the area will continue to grow. This is a prime time to get in on the action, and get your future investments aligned with the stars!
Disclaimer, research and talk to your #financialadvisors and see if this is a wise decision for you, and your #family. Always do your own research before making any #investmentproperty decisions.
Opportunity Zones are best used for ground up developments, including major renovations, and new construction. Not all opportunity zones are equal. An opportunity zone located on a rural country side, is not equal to an opportunity zone in a downtown area with shops, restaurants, and regular held events.
Are you looking for #Investment opportunities in #baycounty, #panamacity #florida? Check out these #OpportunityZones!
