Where are Detroit's "opportunity zones"?

[BankruptcyGuy]

It covers a good deal of Detroit.

https://www.michigan.gov/documents/m...0_616755_7.pdf

This will be a really, really big deal when it gets going. If you invest in one of these with an appreciated asset [[i.e. sell a piece of real estate and buy one here), there is no cap gains tax at all after a 10 year hold. This could usher in some serious investment. Properties that can be spruced up will.

[mwilbert]

It covers a good deal of Detroit.

https://www.michigan.gov/documents/m...0_616755_7.pdf

This will be a really, really big deal when it gets going. If you invest in one of these with an appreciated asset [[i.e. sell a piece of real estate and buy one here), there is no cap gains tax at all after a 10 year hold. This could usher in some serious investment. Properties that can be spruced up will.

Just to be clear, you get a deferral and a 15% discount on the pre-opportunity zone appreciation of the initial investment, and then no cap gains on what you earn on the opportunity zone investment if you hold for ten years. It is a good deal, but it will be interesting to see if actually results in anything significant other than tax avoidance. I hope so, but I'll wait and see. There are a lot of opportunity zones in places [[not just in Detroit) that would probably get significant investment anyway