Because Alta Vista is a KOZ-designated development, owners and occupants will pay no state or local taxes through the year 2010. Though KOZ properties are in short supply, demand is high due to the considerable cost benefits they provide. The sooner you get in, the longer you’ll reap the benefits of KOZ tax-exempt status.
The Keystone Opportunity Zone (KOZ) program is a state-sponsored initiative to encourage development of underutilized land and to create jobs. KOZ developments are the result of partnerships between local communities, state and local taxing bodies, school districts, economic development agencies and community-based organizations. Since 1999, more than 10,000 jobs have been created as a result of this immensely successful program. The addition of Alta Vista will further contribute to the explosive economic development of the Washington County region.
Purchasing Alta Vista properties yields numerous financial benefits. State and federal grant subsidies enable buyers to purchase Alta Vista parcels at per-acre prices that are considerably below development value. The Middle Monongahela Industrial Development Association, Inc. (MIDA) will assist buyers by putting together financing packages utilizing numerous state loan programs. State and local tax exemptions further enhance the economic advantages of purchasing KOZ parcels..
