The Federal Tax Cuts and Jobs Act of 2017 created the Opportunity Zones Program to revitalize economically distressed communities using private investments rather than taxpayer dollars. Taxpayers who invest in Qualified Opportunity Funds are eligible to benefit from capital gains tax incentives available exclusively through the program.
The map below shows the general location of Orange County’s 24 Opportunity Zones. Use the Opportunity Zone Web Map to determine if a property is located within an Opportunity Zone.
Six (6) Opportunity Zones are located within the community of Pine Hills, a focus area for revitalization and redevelopment efforts for Orange County. The Pine Hills Neighborhood Improvement District and Neighborhood Improvement Plan serve as the guides to create a vibrant business district within the Pine Hills community. Six (6) Opportunity Zones are located within other Orange County communities.
Please see the Orange County Opportunity Zones Prospectus for the investment opportunities within the Orange County Opportunity Zones.
For information on the twelve (12) Opportunity Zones located within the City of Orlando, please see the City of Orlando Opportunity Zones web page.
Investment in Opportunity Zones takes place through investment vehicles called Opportunity Funds which must allocate 90% of their assets into Opportunity Zone property.
The profit from the sale of a capital asset, such as stock, bond or real estate, is a Capital Gain. Investors have the option to roll the capital gain into an Opportunity Fund and potentially enjoy the following benefits:
Tax Deferral: Taxes on the rollover capital gains are deferred until the earlier of the date on which the Opportunity Fund investment is disposed of, or December 31, 2026.
Tax Reduction: If the investor holds the Opportunity Fund investment for 5 years, the taxable capital gain amount is reduced by 10 percent. If the investor holds the Opportunity Fund investment for 7 years, the taxable capital gain amount is reduced by 15 percent.
Tax Exclusion: Any capital gains the Opportunity Fund investment generates is not taxed, as long as the investor holds it for 10 years or more.
Investors who sell assets have 180 days to invest their taxable capital gains into an Opportunity Fund.
Orange County Neighborhood Services Division
Orange County Internal Operations Center I (IOC I)
450 East South Street, 3rd Floor, Suite 332
Orlando, Florida 32801