The introduction of Smart City technologies is aimed at creating various types of public values, including operational, political and social values. One of the basic values created by the Smart City is the increase in trust by its stakeholders. Trust is often considered as one of the most important factors contributing to the success of Smart Cities. The level of trust affects the interactions between actors, which is the basis for the successful development of a Smart City. Interaction is needed the generation of the required public values. Therefore, it is important to know the sources of trust and the degree of their presence in the city turned into a smart one. This paper describes one of the recent studies of trust factors done within the framework of the “Smart St. Petersburg” development project. The findings show that the willingness to participate in the Smart City’s strategy development discussion and its development plans co-creation highly depends on the willingness to trust municipal authorities and the familiarity with the Smart City’s solutions from around the world.