O-2024-47 Amend Chapter 11 Section 11.02.036 Establish Homestead Exemption 17.5%TOWN OF PROSPER, TEXAS
ORDINANCE NO. 2024-47
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, AMENDING SECTION 11.02.036, "RESIDENCE HOMESTEAD
EXEMPTION," OF ARTICLE 11.02, "AD VALOREM (PROPERTY) TAXES," OF
CHAPTER 11, "TAXATION," OF THE CODE OF ORDINANCES OF THE TOWN
OF PROSPER, TEXAS, BY ESTABLISHING A HOMESTEAD TAX EXEMPTION
IN THE AMOUNT OF SEVENTEEN AND A HALF PERCENT (17.5%) OF THE
APPRAISED VALUE OF THE HOMESTEAD; PROVIDING FOR APPROPRIATE
NOTICE TO BE GIVEN BY THE CHIEF APPRAISERS OF DENTON COUNTY
AND COLLIN COUNTY; PROVIDING FOR REPEALING, SAVINGS AND
SEVERABILITY CLAUSES; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Constitution of the State of Texas was amended in 1981 by a vote of the
people to allow cities the local option to grant homestead exemptions; and
WHEREAS, on or about June 27, 2023, the Town Council adopted an ordinance which
authorized a homestead exemption in the amount of fifteen percent (15%); and
WHEREAS, it is the desire of the Town Council to amend the Town's existing residence
homestead exemption by authorizing a homestead exemption in the amount of seventeen and a
half percent (17.5%).
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
SECTION 1
The findings set forth above are incorporated into the body of this Ordinance as if fully set
forth herein.
SECTION 2
From and after the effective date of this Ordinance, Section 11.02.036, "Residence
Homestead Exemption," of Article 11.02, "Ad Valorem (Property) Taxes," of Chapter 11,
"Taxation," of the Code of Ordinances of the Town of Prosper, Texas, is hereby amended to read
as follows:
"Sec. 11.02.036 Residence homestead exemption.
From and after the effective date of this section, a homestead exemption of seventeen
and a half percent (17.5%) is granted to all qualified homeowners subject to the Town's property
tax pursuant to the laws of the state regulating the assessment of ad valorem taxes. If this
percentage produces an exemption of less than $5,000.00 when applied to a particular
residence homestead, the individual shall be entitled to an exemption of $5,000.00 of the
assessed value of the property."
SECTION 3
The Chief Appraiser for the Denton County Appraisal District and the Chief Appraiser for
the Collin County Appraisal District shall give appropriate notice to the general public advising it
of the availability of the exemption.
SECTION 4
This Ordinance shall apply to the 2024 tax roll and all subsequent tax rolls unless repealed
or amended by ordinance.
SECTION 5
All provisions of any ordinance in conflict with this Ordinance are hereby repealed to the
extent they are in conflict; but any remaining portion of conflicting ordinances shall remain in full
force and effect.
SECTION 6
If any section, subsection, sentence, clause or phrase of this Ordinance is for any reason
held to be unconstitutional or invalid by a court of competent jurisdiction, such decision shall not
affect the validity of the remaining portions of this Ordinance. The Town hereby declares that it
would have passed this Ordinance, and each section, subsection, clause or phrase thereof,
irrespective of the fact that any one or more sections, subsections, sentences, clauses, and
phrases be declared unconstitutional.
SECTION 7
This Ordinance shall become effective after its passage.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, ON THIS THE 25TH DAY OF JUNE, 2024.
APPROVED:
David F. Bristol, Mayor
ATTEST:
oar VWj,,S ; G
Michelle Lewis Sirianni, Town Secretary
APPROVED AS TO FORM AND LEGALITY:
Terrence S. Welch, Town Attorney
�OFPR��
\ 1914
XAS
Ordinance No. 2024-47, Page 2