(Editor’s note: Opinion pieces are published for discussions purposes only.)
By Jordan Rose and Jim Belfiore | East Valley Tribune
In just the last month, through the implementation of Trump’s tax plan, a compelling new tool to spur investment into property across Arizona has been adopted. The Opportunity Zone was created to promote investment in areas that states want to see further economic activity.
The tax bill allowed governors to submit for approval on various sites. In Arizona, Gov. Doug Ducey was approved for 168 sites that will provide a tax incentive for new investment. The law provides for a reduction or total waiver of capital gains tax if an investment is made into an O Zone location.
The O Zone promotes investment in assets like commercial property or land – pumping some serious oxygen and opportunity into the Arizona market that didn’t exist a week and a half ago.
