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2025 2024 2023 2022 2021 <br />Assessed Value 35,257,816$ 34,176,339$ 32,247,486$ 29,958,828$ 28,845,778$ <br />Adjusted assessed valuation 35,257,816 34,176,339 32,247,486 29,958,828 28,845,778 <br />Debt limit percentage 3.75%3.75%3.75%3.75%3.75% <br />Debt limit 1,322,168 1,281,613 1,209,281 1,123,456 1,081,717 <br />Total net debt applicable to limit 1,322,168 1,281,613 1,209,281 1,123,456 1,081,717 <br />Legal debt margin -$ -$ -$ -$ -$ <br />Sources: Finance Department, City of Redwood City , San Mateo County - Office of the Auditor Controller <br />Fiscal Year <br />City of Redwood City <br />Legal Debt Margin Information <br />Last Ten Fiscal Years <br />(in thousands) <br />Note: Under state finance law, the City's outstanding general obligation debt should not exceed 15% of total assessed property value. However, the <br />City has established a more conservative internal limit of not more than 3.75%. By law, the general obligation debt subject to the limitation may be <br />offset by amounts set aside for repaying general obligation bonds. <br />224 <br />7.C. - Page 256 of 269 <br />275