As pointed out, trees on your property add value to your property. I'm not talking about timber value of the tree. I appraise trees occasionally for their landscape value following guidelines set up by Council of Tree & Landscape Appraisers.
Using current values a 20" diameter at breast height (4.5' above grade)red oak can add up to $21,000 your property. Their are individual site factors that reduce this figure, but still it can add quite a bit of value.
In addition you may want to read this document Why Shade Streets (pdf) Tax money spent on paving is saved by trees. Like all objects (your car) there are expenses for maintenance, and a certain amount of risk you accept by owning them.
As far as bike lanes, doing stuff to reduce traffic on the streets benefit everybody. So it seems like a legitimate use of money.