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Table 4
<br /> Property Tax Revenues
<br /> 2014/15FY 2014/15FY
<br /> 2011/12FY 2012/13FY 2013/14FY Original Adjustments Mid-Term
<br /> Property Tax Categories Actuals Actuals Midyear Budget (Decreases) _ Budget
<br /> Secured Properly $38,748,410 $39,487,130 $41,398,000 $41,000,000 $1,150,000 $42,150,000
<br /> Unsecured Property 2,366,462 2,357,775 2,400,000 2,450,000 0 2,450,000
<br /> Delinquent Taxes 1,445,750 1,265,459 950,000 1,200,000 (250,000) 950,000
<br /> Property Tax in Lieu of VLF 4,816,786 4,855,320 5,052,000 4,900,000 265,000 5,165,000
<br /> Supplemental Assessment 546,383 683,005 650,000 913,540 (263,540) 650,000
<br /> Total Property Taxes $47,923,791 $48,648,689 $50,450,000 $50,463,540 _ $901,460 $51,365,000
<br /> Sales Tax — As shown in Table 5, sales tax is estimated to increase $1.4 million over the
<br /> original 2014/15FY budget projections. A majority of this is due to a substantial growth in sales
<br /> tax since June 2013. City staff was very conservative when the original projections were
<br /> estimated in June 2013. Since that time the economy has improved and the impact of the
<br /> opening of the outlet mall in Livermore has had less of an impact on retail sales in Pleasanton
<br /> than was originally projected, including impacts on the Stoneridge Shopping Center.
<br /> Table 5
<br /> Sales Tax Revenue
<br /> 2014/15FY 2014/15FY
<br /> 2009/10FY 2010/11FY 2011/12FY 2012/13FY 2013/14FY Original Adjustments Mid-Term
<br /> Sales Tax Revenue Actual Actual Actuals Actuals Midyear Budget (Decreases) Budget
<br /> Total Sales Tax $15,420,066 $18,503,316 $19,107,418 $19,102,977 $20,070,000 $20,300,000 $1,400,000 $21,700,000
<br /> Development Services Fees — Development Services fees are comprised of the various
<br /> building permit fees (building, electrical, plumbing, HVAC), planning & zoning fees, plan check
<br /> fees, and public works fees.
<br /> The initial projection for these permit fees for 2014/15FY was $4.228 million. Based on current
<br /> building activity they have been revised upward slightly to $4.248 million. This is slightly less
<br /> than the projected revenues in 2013/14FY. The City has experienced an increase in building
<br /> activity with the development of Phases II and Ill (assisted and skilled nursing facilities) of the
<br /> Stoneridge Creek CLC project and will likely see growth in fee revenues in the coming fiscal
<br /> year related to the housing portion of the Pleasanton Gateway project; the BRE housing
<br /> development in Hacienda Business Park; the E&S Ring housing project on Stanley Boulevard,
<br /> the development of CarMax at Staples Ranch, the construction of Workday Corporate
<br /> Headquarters at Stoneridge Mall area, and construction of the new Lexus Dealership on
<br /> Rosewood Drive.
<br /> The 10 year history of property taxes, sales taxes, and development services fees is shown in
<br /> Table 6.
<br /> 7
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