Description
Nice corner lot in growing area. Located in the East Lehigh Opportunity Zone. The Opportunity Zone Program aims to foster economic development and job creation in economically distressed communities. It was created by the Federal Tax Cuts and Jobs Act of 2017 to encourage businesses, developers and financial institutions to invest long-term capital in low-income census tract areas. Tax benefits can accrue once unrealized capital gains from other investments are rolled into Qualified Opportunity Zone Funds. Benefits include deferred taxes, reduced taxes and the rolled over capital gain appreciates tax-free.
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