"Endless Opportunities" in the heart of Amarillo through an Opportunity Zone.
- Poverty Rate < 20%; or
- Median family income of:
- No more than 80% of statewide median family income for census tracts within non-metropolitan areas.
- No more than 80% of the greater statewide median family income of the overall metropolitan median family income for census tracts within metropolitan areas.
Up to 25% of census tracts of each jurisdiction that met this criteria could be nominated. An additional 5% of each jurisdiction could quality if the met additional income and geographic requirements:
- Census tract contiguous with low-income Opportunity Zone and
- Median family income of no more 135% median family income adjacent Qualified Opportunity Zone
On March 21, 2018, Governor Abbott designated 628 census tracts in Texas as Opportunity Zones, which were later certified by the U.S. Department of Treasury on April 18, 2018. Within Amarillo, there is 1 designated tract that covers downtown Amarillo along with part of the Barrio Neighborhood Plan area. Qualified Opportunity Funds can invest in a multitude of eligible real estate and operating business projects. Investors should refer to the IRS Frequently Asked Questions and Department of Treasury regulations for more information.
Where is Amarillo's Opportunity Zone?
The City of Amarillo has 1 Census Tracts eligible for Opportunity Fund investments: Census Tract 154.00
Assets within the zone include: Barrio Neighborhood Plan (North of Interstate 40) Downtown (north of SW 11th St & south of the railroad) Infrastructure in or near zone – highway access, rail, air, water, sewage
How do Opportunity Zones work?
10 Year Sell
Dec. 31, 2019 – Last day to invest in Qualified Opportunity Zone Fund to recognize maximum program benefits
Dec. 31, 2021 – Last day to invest in Qualified Opportunity Zone Fund to realize a 10% Step-Up in Basis
Dec. 31, 2026 – Forced recognition of capital gains invested into Qualified Opportunity Zone Funds
Dec. 31, 2028 – Federal designation of Opportunity Zones expires
There are a number of online resources to learn more about Opportunity Zones. Please find below links to the IRS, U.S. Department of Treasury and the Economic Innovation Group Opportunity Zones resources.
- IRS Frequently Asked Questions
- U.S. Department of Treasury, Regulations released April 17, 2019
- Economic Innovation Group
For questions, email EconomicDevelopment@Amarillo.gov.
Disclaimer: The Opportunity Zone tax provisions are not administered by the City of Amarillo. Current law and guidance provides no regulatory oversight by a local or state government. The information provide on this page is intended for resource and educational purposes only and does not endorse a specific opportunity zone fund.