Benefits Exist with Several Opportunity Zones in the Heart of Texas
Opportunity Zones offer investors incentives for putting their capital to work in low-income communities. Created through the federal Tax Cuts & Jobs Act of 2017, Opportunity Zones are designed to spur economic development and job creation in those communities.
Incentives include a temporary tax deferral and a step-up in basis for capital gains reinvested in an Opportunity Zone Fund and a permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified Opportunity Zone Fund if the investment is held for at least 10 years.
The Heart of Texas Region has 11 Opportunity Zones spread throughout much of the area. Contact Dorthy Jackson for more information about the Opportunity Zone areas within the HOTCOG region at Dorthy.firstname.lastname@example.org or call 254-292-1874.
Bosque County has one Opportunity Zone in the city of Meridian.
Falls County has one Opportunity Zone that includes part of the city of Marlin.
Hill County has two Opportunity Zones with one that covers all of the cities of Itasca and Covington, while the other partially covers Hillsboro.
Limestone County has two Opportunity Zones that include part of Mexia and all of Groesbeck.
McLennan County has five Opportunity Zones. Waco has three and the cities of Hallsburg, Mart, Riesel and West are within or partially within two others.