Peninsula city budgets generally rely heavily on property, sales and transit occupancy taxes for revenues. In fiscal year 2014-2015 (ending June 30, 2015) the City of Menlo Park is projected to earn the revenues shown in the table below.
- Property Tax Revenue: $14.7M (32% of total revenues)
- Sales Tax Revenue: $6.6M (14%)
- Transit Occupancy Tax Revenue: $4.4M (9%)
- Total Revenue Contribution; $25.7M (55%)
Projected New Revenues
New development projects with expected completion dates in the next 5 years will dramatically increase annual revenues to the City of Menlo Park. The City estimates expected revenues from each development project as part of its formal review and approval process.