We’ve covered investments in opportunity zones, a hot topic in the world of real estate investing since their introduction in 2017, many times in this space. These designated zones, created by the Tax Cuts and Jobs Act, were designed to spur economic development and job creation in specific communities and census tract areas, while simultaneously providing substantial tax incentives for investors.
However, with some provisions in the Tax Cuts and Jobs Act (and therefore opportunity zones themselves) set to expire less than three years from now, many are wondering what the future holds for this investment opportunity and, more specifically, whether it’s a good place for a new investment in 2024. The short answer: While investors have only a few short years to act before the program phases out, there is still a strong case to be made for a QOZ investment, despite — and perhaps even because of — the looming expiration date.
