The U.S. Department of Treasury’s Community Development Financial Institutions Fund has just released the list of New Jersey’s approved Opportunity Zones. The Opportunity Zones are identified by specific census tracts provided below.

The federal Opportunity Zone program is a new tax incentive designed to direct investor capital into various low-income and distressed areas around the country. On March 21, Governor Murphy submitted New Jersey’s list of eligible census tracts seeking Opportunity Zone designation.

The program affords investors the opportunity to defer and reduce capital gains that are invested in opportunity funds. In addition, an investor who holds an interest in an opportunity fund for 10 years or more does not pay any tax on the gain when the opportunity fund investment is sold or transferred.  Additional details can be found in an earlier article we published here.

The best way to determine if a potential development site is based in an Opportunity Zone is to first identify the census tract.  This can be done by entering the address where prompted on this site. Once, the census tract is identified, it can be compared against the list of eligible tracts listed below or it can be entered where prompted on this site to confirm Opportunity Zone eligibility.

The Redevelopment Law Practice Group at Sills Cummis & Gross will continue to report on this program at www.redevelopnj.com as it embarks on initial Opportunity Zone projects around New Jersey.

 

Opportunity Zones

Atlantic County:
34001000400, 34001001900, 34001002300, 34001002400, 34001010600, 34001011702, 34001012100, 34001012702


Bergen County:
34003006300, 34003015400, 34003018200, 34003021200, 34003021500, 34003021600, 34003023100, 34003023200, 34003023402, 34003030100, 34003030300, 34003036100


Burlington County:
34005700104, 34005700703, 34005701204, 34005702207, 34005702807


Camden County:
34007600200, 34007600700, 34007601300, 34007601500, 34007601800, 34007607702, 34007608504, 34007610300, 34007610400, 34007610600, 34007610800


Cape May County:
34009021400, 34009021804


Cumberland County:
34011020100, 34011020503, 34011030100, 34011040500, 34011041100


Essex County:
34013001400, 34013004100, 34013004802, 34013005000, 34013006800, 34013007400, 34013007501, 34013007502, 34013008000, 34013008100, 34013009600, 34013010600, 34013010900, 34013011300, 34013013100, 34013013200, 34013013300, 34013018300, 34013018600, 34013018700, 34013018900, 34013022900, 34013023100


Gloucester County:
34015501001, 34015501101, 34015501402, 34015501406


Hudson County:
34017001900, 34017002000, 34017002900, 34017004102, 34017004600, 34017004700, 34017004800, 34017005200, 34017006000, 34017006300, 34017006800, 34017010300, 34017010800, 34017012700, 34017014600, 34017014800, 34017015500, 34017016200, 34017016400, 34017016900, 34017017800


Hunterdon County:
34019011400


Mercer County:
34021000100, 34021000200, 34021000800, 34021000900, 34021001000, 34021002000, 34021002100, 34021002902


Middlesex County:
34023003600, 34023004500, 34023004600, 34023004800, 34023004900, 34023005300, 34023005500, 34023005602, 34023005700, 34023005800, 34023006800, 34023008300, 34023009300


Monmouth County:
34025803400, 34025805800, 34025806000, 34025807003, 34025807300, 34025807600, 34025808100, 34025810900


Morris County:
34027044800, 34027044900, 34027045000, 34027045100


Ocean County:
34029715000, 34029715200, 34029715402, 34029715500, 34029715600, 34029715800, 34029720101, 34029720102, 34029720202, 34029731101, 34029731205


Passaic County:
34031124601, 34031125100, 34031175200, 34031175301, 34031175402, 34031175900, 34031181500, 34031181800, 34031182302, 34031182500, 34031182800, 34031182900, 34031183200, 34031203600, 34031264200


Salem County:
34033020600, 34033022100


Somerset County:
34035051100, 34035051200, 34035051700


Sussex County:
34037371200


Union County:
34039031100, 34039031200, 34039031602, 34039032400, 34039035300, 34039035400, 34039036000, 34039039000, 34039039300, 34039039800, 34039039900


Warren County:
34041030700