Find It Now

1 I Need To...
2 Apply...
3 Apply Now

Find Building and Properties for sale in the City of Medina (Economic Development)

Opportunity Zone

Medina Opportunity Zone

In December 2017, Congress passed the Tax Cuts and Jobs Act, which included the Opportunity Zone tax incentive meant to spur economic development in designated communities. The incentive is the largest new federal economic development program enacted in years.

In 2018, state officials designated areas in each state that met the required poverty level. Congress evaluated these selections and approved approximately 8,700 economically distressed census tracts in community nationwide. The City of Medina was fortunate to be one of 320 areas selected in Ohio. (See Map)
Opportunity Zone Map City of Medina

Click on map to enlarge.

Opportunity Zone provisions are intended to boost equity capital investment in the identified communities by providing investors three levels of incentives for putting their capital to work in an economically distressed area. The three primary benefits are:

  • A Temporary Deferral: An investor can defer capital gains taxes until the end of 2026 by rolling their gains directly over into an Opportunity Fund
  • A Tax Liability Reduction: The deferred capital gains liability is effectively reduced by 10% if the investment in the Opportunity Fund is held for 5 years and another 5% if held for 7 years
  • A Tax Exemption: Any capital gains on subsequent investments made through an Opportunity Fund accrue tax-free as long as the investor stays invested in the fund for at least 10 years

For more information on Opportunity Zones, contact your realtor, financial planner, or banker.

For information on investment properties in the City of Medina Opportunity Zone call 330-764-3319.

Use the links below to find out more details about Opportunity Zone investments.

Let's Stay Connected