In 2017 Congress passed the TCJA, or Tax Cuts and Jobs Act of 2017. This wide-ranging legislation affected many industries, but the real estate sector saw some of the most significant changes. The bill called for the creation of real estate "Opportunity Zones."
These zones are underdeveloped areas where the federal government plans to deploy tax benefits to developers and investors to encourage economic growth in low-income communities. Philadelphia has several new opportunity zone projects that have already... read more