NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require a password.
Qualified Opportunity Zones Toolkit (National Association of REALTORS®, Oct. 2019)
A resource for Associations to use as they work with state and local Economic Development Organizations, Opportunity Funds, and their membership to plan and implement development in QOZs.
Qualified Opportunity Zones Issue Summary (National Association of REALTORS®)
Get information about the policy side of Qualified Opportunity Zones with NAR’s Federal Issues Tracker. The Issues Tracker includes background information about QOZs, NAR’s policy, oppositional arguments, and the Legislative/Regulatory Status Outlook. Includes links to any current legislation and the legislative contacts from NAR’s Advocacy Team.
Opportunity Zones Frequently Asked Questions (Internal Revenue Service, Nov. 2, 2021)
These FAQs (and answers) help to explain opportunity zones and give links to the IRS notices and resources for opportunity zones.
Map of Opportunity Zones (Department of Housing and Urban Development, 2021)
An interactive map from the US Department of Housing and Urban Development (HUD) that allows you to search for QOZs. The map also links to more information about each state or territory’s opportunity zone strategy.
Final Regulations Issued Implementing Opportunity Zones Tax Incentive (Journal of Taxation of Investments, 2020) E
“This article summarizes a number of important clarifications and changes made to prior guidance by the final Treasury Regulations issued under IRC Section 1400Z-2 implementing the federal Opportunity Zone program. The article discusses provisions of the Final Regulations impacting investors, Qualified Opportunity Funds, Qualified Opportunity Zone Businesses, and Qualified Opportunity Zone Business Property, as well as the effective date and applicability of the Final Regulations.”
Qualified Opportunity Zones Background (National Association of REALTORS®, Fall 2018)
General questions, and links to additional resources, including a list of designated QOZs, a map of QOZs, and proposed rules by the Treasury.
Webinar: Capitalizing on Opportunity Zones and Section 199A (National Association of REALTORS® - login required)
NAR representatives discuss how these two new developments will affect the commercial real estate industry.
Real Estate & Passthrough Corner: Real Estate Finance Post-Tax Reform: New Markets Tax Credit, Rehabilitation Tax Credit and Qualified Opportunity Zones — (Journal of Passthrough Entities, May/Jun. 2018) E
Offers a great flow-chart about how to set up Qualified Opportunity Funds and how those invest in Qualified Opportunity Zones.
Qualified Opportunity Zone Boundaries Unaffected by 2020 Decennial Census Changes (Internal Revenue Service, Oct. 2021)
This announcement from the IRS clairifies that the Opportunity Zones established in 2018 and 2019 are not subject to the changes in Census tracts from the 2020 Census results.
Home Values in Opportunity Zone Redevelopment Areas Maintain Momentum Along with the Rest of U.S. Housing Market (ATTOM, Nov. 18, 2021)
A discussion of ATTOM’s report “analyzing qualified opportunity low-income Opportunity Zones” home prices. “Values in markets scattered through so-called Opportunity Zones kept rising at around the same pace seen in more upscale areas, as the housing-market boom kept lifting fortunes just about everywhere,” said Todd Teta, chief product officer with ATTOM. “Home values in Opportunity Zones are still very low relative to other areas. But the ongoing gains showed that lots of households are buying in those areas – something that should lure the attention of investors looking to take advantage of Opportunity Zone tax breaks.””
Opportunity Zones: A Place-Based Incentive for Investment in Low-Income Communities (Cityscape: Journal of Policy Development and Research, 2020) E
“The Tax Cuts and Jobs Act of 20171 included several major revisions of the U.S. tax code. Although the press thoroughly covered changes to marginal tax rates, deduction rules, and corporate rates, at least one section only received its share of attention more recently. This section, 1400Z,2 created a new place-based tax incentive intended to spur economic development and job creation in distressed communities designated as “Opportunity Zones.” Although Opportunity Zones (OZs) are the latest place-based tax incentive, they also represent a sweeping expansion of the approach— both in terms of the potential tax benefits being provided and the huge scale of the geography now covered for reduced income taxes for investors.”
Be An Opportunity Zone Leader (REALTOR® Magazine, Oct. 30, 2019)
“Whether you’re interested in participating yourself or helping clients learn more about these investment opportunities drawn from every eligible census tract in the U.S., the National Association of REALTORS® is providing support to local REALTOR® associations to help members take advantage of the new program. REALTORS® have been connecting with community stakeholders to help identify development priorities that fall within opportunity zones in or around where they live and work.”
Ensuring Opportunity Zones Work for All (REALTOR® Magazine, May 15, 2019)
“Chris Coes, vice president of land use and development for Smart Growth America, spoke at the Housing Opportunity Committee on May 15 during the REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. Coes discussed opportunity zones and presented risks of community displacement. It's important, he said, that real estate professionals consider vulnerable populations and businesses to ensure they, too, benefit from growth and redevelopment.”
IRS Issues Guidance Relating to Deferral of Gains for Investments in a Qualified Opportunity Fund (Internal Revenue Service, Apr. 17, 2019)
“The proposed regulations allow the deferral of all or part of a gain that is invested into a Qualified Opportunity Fund (QO Fund) that would otherwise be includible in income. The gain is deferred until the investment is sold or exchanged or Dec. 31, 2026, whichever is earlier. If the investment is held for at least 10 years, investors may be able to permanently exclude gain from the sale or exchange of an investment in a QO Fund.”
Opportunity Zones Hype Overshadows Potential Pitfalls and Risks (National Real Estate Investor, Mar. 26, 2019)
This article discusses how the tax benefits can blind investors to the project's lack of viability and social impact.
Recent Developments & Observations: Qualified Opportunity Zones — A Boon With Uncertainty (Journal of Passthrough Entities, Sep./Oct. 2018) E
Looks at the new qualified opportunity fund and how it raises some of the difficult questions that arise under the new law, including the restrictions on opportunity zone business growth, the hazy definition of “substantial improved property” to qualify for tax breaks in an opportunity zone, the amount of unqualified property an investor may hold in opportunity zone assets, and the disparity in the tax basis.
Opportunity Zones: Vital Tool or Tax Windfall for Rich? (Washington Informer, Oct. 11, 2018) E
This short article talks about African Americans can benefit from the Opportunity Zone program.
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