The full point is just the other way up. My guess is the fact that 90% of many of the tax Added benefits will Visit the pretty top and ninety% in the impacts will probably be unnecessarily borne by Every person else.
It’s pretty very clear that beneficiaries in the OZ legislation will be predominately the quite rich, as the only kind of funds that qualifies with the tax Advantages is unrealized money gains.
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Or if any affordable housing is crafted – for being in compliance with local in-lieu specifications -- the OZ tactic Certainly makes sure that small earnings people today will stay concentrated in existing reduced read more earnings neighborhoods, contradicting the stated community coverage target of giving affordable housing throughout the SF Bay Place.
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As an example, Marin County has Practically no opportunity zone places identified, since we're not a very low income census tract. That’s really dumb and evidence why maps are dumb to begin with. So as penned, the Opportunity Zone legislation guarantees the status quo. It ensures that no investor can have any incentive to construct affordable housing in Marin, that is exactly where by we want and wish it for being developed.