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2020 2019 2018 2017 2016 <br />Assessed Value 26,732,008$ 24,828,991$ 23,069,360$ 21,321,107$ 19,448,034$ <br />Adjusted assessed valuation 26,732,008 24,828,991 23,069,360 21,321,107 19,448,034 <br />Debt limit percentage 3.75%3.75%3.75%3.75%3.75% <br />Debt limit 1,002,450 931,087 865,101 799,542 729,301 <br />Total net debt applicable to limit 1,002,450 931,087 865,101 799,542 729,301 <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 (Continued) <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 />225 <br />7.C. - Page 257 of 269 <br />276