Getty ImagesA bipartisan group of legislators and billionaires pushed a novel tax break, involving so-called “opportunity zones,” into President Donald Trump’s 2017 end-of-year tax overhaul. “There would have been no qualified opportunity zone tax benefits to him purchasing the properties,” Reynolds says. “The tax benefits arise from investing in a qualified opportunity zone fund which then has to meet the criteria.”The ProPublica report, however, also notes that property values rise inside of opportunity zones. The opportunity zone tax break at its core promotes investments in neighborhoods often overlooked by investors. The critiques often center on just how wealthy opportunity zones can be.

Source: Forbes October 25, 2019 19:41 UTC