San Diego lies in the state of California which has decoupled itself from federal tax code provisions regarding Opportunity Zone tax deferral and treatment.
Out of the 314 census tracts that exist within, or partially within the city of San Diego 37 have been designated eligible for Qualified Opportunity Fund investment. This represents approximately 11.78% of the census tracts in the city. Of the zones that are eligible, 36 qualify as a low-income community. This means the poverty rate was above 20%, or that the median household income was below 80% of the state or metropolitan area’s median household income.
The remaining zones qualified as contiguous, meaning they were located adjacent to an eligible tract, and the median household income did not exceed 125% of that eligible tract. San Diego lies in the state of California which automatically conforms to the federal tax code as it is amended. Both the city and state have adopted the new Qualified Opportunity Zone provisions. California has 879 opportunity zones, which means San Diego contains 4.21% of the Qualified Opportunity Zones that exist within the state.
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