12-29 - O i1•
TOWN OF
SPER
ORDINANCE NO. 12-29
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS ADOPTING THE TOWN OF
PROSPER 2012 PROPERTY TAX RATE, LEVYING TAXES FOR FISCAL YEAR BEGINNING
OCTOBER 1, 2012 AND ENDING SEPTEMBER 30, 2013 AT THE RATE OF $0.52 PER ONE
HUNDRED DOLLARS ($100.00) ASSESSED VALUE ON ALL TAXABLE PROPERTY WITHIN
THE CORPORATE LIMITS OF THE TOWN OF PROSPER, TEXAS IN ACCORDANCE WITH
EXISTING STATUTORY REQUIREMENTS AND PROVIDING FOR THE PUBLICATION OF
THE CAPTION HEREOF ON THE TOWN'S HOME PAGE OF ITS WEBSITE.
WHEREAS, the Town Council of the Town of Prosper, Texas (hereinafter referred to as the
"Town") hereby finds that the tax for the fiscal year beginning October 1, 2012, and ending September
30, 2013, hereinafter levied for current expenditures of the Town and the general improvements of the
Town and its property must be levied to provide revenue requirements for the budget for the ensuing year;
and
WHEREAS, the Town Council has approved, by separate ordinance to be adopted on the 25th day
of September, 2012, the budget for the fiscal year beginning October 1, 2012 and ending September 30,
2013; and
WHEREAS, all statutory and constitutional requirements concerning the levying and
assessing of ad valorem taxes have been complied with.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, COLLIN COUNTY, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into the
body of this Ordinance as if fully set forth herein.
SECTION 2: Adoption of Tax Rate. We the Town Council of the Town of Prosper do hereby
levy or adopt the tax rate of$0.520000 per$100 valuation for the Town for tax year 2012 as follows:
$0.316914 for the purpose of maintenance and operation and
$0.203086 for payment of principal and interest on debt service.
SECTION 3: Truth In Taxation Required Language. The rate adopted is higher than both the
effective and rollback rates as calculated according to Truth In Taxation, and the total levy for
maintenance and operations exceeds last year's levy for the same. As a result, the following statement
must be included in the ordinance in a type larger than that used in any portion of the ordinance.
THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE
AND OPERATIONS THAN LAST YEAR'S TAX RATE.
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THE TAX RATE WILL EFFECTIVELY BE RAISED BY 12.10 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS
ON A $100,000 HOME BY APPROXIMATELY $ -0.03.
SECTION 4: Truth In Taxation Required Web Posting. The rate adopted is higher than both
the effective and rollback rates as calculated according to Truth In Taxation, and the total levy for
maintenance and operations exceeds last year's levy for the same. As a result, the following statement
must be posted to the home page of the Town's web site.
THE TOWN OF PROSPER ADOPTED A TAX RATE THAT WILL
RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS
THAN LAST YEAR'S TAX RATE.
THE TAX RATE WILL EFFECTIVELY BE RAISED BY 12.10 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS
ON A $100,000 HOME BY APPROXIMATELY $ -0.03.
SECTION 5: Place of Payment/Collection. The Tax Assessor-Collector for Collin County is
hereby authorized to assess and collect the taxes of the Town of Prosper in accordance with this
ordinance. The Town shall have all rights and remedies provided by the law for the enforcement of the
collection of taxes levied under this ordinance.
SECTION 6: Savings/ Repealing Clause. All provisions of any ordinance in conflict with this
Ordinance are hereby repealed; but such repeal shall not abate any pending prosecution for violation of
the repealed Ordinance, nor shall the repeal prevent prosecution from being commenced for any violation
if occurring prior to the repeal of the Ordinance. Any remaining portions of conflicting ordinances shall
remain in full force and effect.
SECTION 7: Severability. Should any section, subsection, sentence, clause or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly
provided that any and all remaining portions of this Ordinance shall remain in full force and effect.
Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, sentence,
clause, or phrase thereof irrespective of the fact that any one or more sections, subsections, sentences,
clauses, or phrases be declared unconstitutional or invalid.
SECTION 8: Effective Date. This Ordinance shall become effective from and after its adoption
and publication as required by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS ON THIS 25th DAY OF SEPTEMBER, 2012 AT A MEETING WHICH WAS
HELD IN STRICT ACCORDANCE WITH THE TEXAS OPEN MEETING ACT.
c
A \
RA SMI I , Mayor
ATTEST TO:
AMY PIUKA ' C
Town Secretary
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