JOURNAL ARTICLE

Do opportunity zones create opportunities? The impact of opportunity zones on real estate prices.

  • Published In: Real Estate Economics, 2024, v. 52, n. 1. P. 214 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Alm, James; Dronyk‐Trosper, Trey; Larkin, Sean 3 of 3

Abstract

The Tax Cuts and Jobs Act of 2017 allowed governors of the 50 states to designate low‐income areas as "qualified opportunity zones" (QOZs). This designation entitled investors in these QOZs to significant tax incentives, with the goal of creating economic opportunities in these areas. In this article, we estimate the impact of QOZ designation on several dimensions of economic development—residential and business real estate prices—using data from Florida for the period 2016–2020 and controlling for endogenous QOZ designation in several estimation approaches. All estimation results indicate little consistent and robust evidence that QOZ designation had a positive impact on sales prices for single‐family homes, commercial lots, or vacant lots. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Real Estate Economics. 2024/01, Vol. 52, Issue 1, p214
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2024
  • ISSN:1080-8620
  • DOI:10.1111/1540-6229.12434
  • Accession Number:174881597
  • Copyright Statement:Copyright of Real Estate Economics is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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