Property Ownership
Pennsylvania's 'Keystone Opportunity Zone' (KOZ) tax benefits for real property located in a KOZ include:
APermanent tax exemption for all owners regardless of activity
BReal estate tax abatements and exemptions for qualifying owners and businesses located in designated zones✓ Correct
CAutomatic zoning approval for any development in a KOZ
DState ownership of the property until development occurs
Explanation
KOZ real estate tax abatements can dramatically reduce the carrying costs of property in designated economically distressed zones, making investment more attractive. Qualifying businesses and residents in KOZs can receive substantial state and local tax relief including real estate tax exemptions for specified periods.
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