In 1990, sales tax made up 45 percent of the total revenue. Today, sales tax comprises 37 percent of total revenues. The City continues to benefit from conservative fiscal policies that protect the City's financial well-being. The fiscal strength of the City is further evidenced by the City's bond rating for general obligation debt. The City continues to benefit from a robust local economy and improving business climate.
New construction continues at near record levels.
These factors and the many major developments now underway will serve to protect the City's financial well being for many years to come by bringing in new tax dollars. As a final note, the City has a long history of adopting responsible, balanced budgets. Preserving the quality of life within residential neighborhoods is a top priority of the City. That is why the City has neighborhood traffic protection programs, free tree planting and maintenance in residential area parkways and is currently updating its General Plan to ensure compatible zoning in residential areas and appropriate lot sizes. The City is currently upgrading its development standards for new residential projects to ensure that new developments are compatible with and preserve the integrity and character of existing single-family neighborhoods.