Qualified Opportunity Zones have been added to the Realtors Property Resource® platform. RPR is a nationwide data resource and a wholly owned subsidiary of the National Association of Realtors®. This powerful data layer will allow Realtors® to use RPR’s map interface to analyze and search for properties within the 8,700 Opportunity Zones throughout the U.S.
Created in 2017 as part of the Tax Cuts and Jobs Act, the purpose of the federal government’s QOZ program is to drive economic growth through long-term investments in economically disadvantaged communities. Designated as “Opportunity Zones,” these areas present opportunities for real estate investment and development by offering tax incentives to investors. Opportunity Zones encourage private investment in low-income communities, with the intent of stimulating economic growth and job creation.
NAR has developed resources to help facilitate and expedite investments in these areas. Through RPR, Realtors® will search a geographic area and choose to display the Opportunity Zones layer, which will then reveal shaded areas that qualify. Realtors® can then analyze all properties that fall in the Opportunity Zone, review economic and demographic statistics for the area and create reports for investors regarding buying potential.