Opportunity Zones
Interested in viewing a particular property? The City's Parcel Researcher now has an opportunity zone layer, which you can toggle on as you research zoning, site constraints, and county parcel data for individual parcels.
Potential Opportunity Zone Investments
| Vista Field Opportunity Zone | Downtown / Waterfront Opportunity Zone |
|---|---|
| Clearwater Avenue Commercial | Clover Island |
| Edison Street Commercial | Columbia Drive Urban Mixed Use Area |
| Vista Field | Columbia Gardens |
| Vista Industrial Park | Historic Downtown Kennewick |
What is an Opportunity Zone?
Special designated census tract where certain investments are eligible for preferential federal tax treatment.
How do I take advantage of the benefits of a Opportunity Zone?
When you have a sale of an asset or investment that triggers a capital gains tax you can reinvest that income in a Kennewick Opportunity Zone. The new investment allows:
- Deferral of capital gains for up to ten years
- Capital Gains partial abatement; 15% total if invested prior to 12/31/19, 10% total if invested prior to 12/31/21
- No accrual of tax on new investment if held for ten years or more