Posted May 13, 2021
With Tallahassee receiving 8 designated Opportunity Zones around the downtown, Southern, and Western regions of the city we may see a major increase in commercial developments within these regions. Recent Federal calls to "roughly double capital gains tax rates" has lead to CRE investors hunting down methods of avoiding the drastic impact to their portfolios. The deferral of tax payments, in exchange for re/development, combined with the ability to step up the basis (by 10% of original investment amount) of any given investment can yield some serious tax savings over the remaining period of this program. For those of us who live in these areas, we can continue to look forward to improvement of those run down commercial sites we see regularly.
To learn more check out the original Globe St. Article: