Nov
22
2021
Congresses’ Opportunity Zones Doubled Median Home Prices
Adams County, Colorado, and nine other cities across the country benefitted from the establishment of Opportunity Zones, which were created by the Tax Cuts and Jobs Act of 2017. Congress enacted these laws to help revitalize low-income areas and give investors significant tax breaks to invest in properties in these cities. Adams County’s median price rose to $429,000 in 2021, which was up from $222,500 in 2020. Hennepin County, Minn., Galveston County, Texas, and Miami-Dade County, Fla., were the top three, and all 10 cities almost doubled their median sales price. More than 8,700 communities were designated as available for revitalization.