18-72 - OTOWN OF PROSPER, TEXAS
ORDINANCE NO. 18-72
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER, TEXAS,
ADOPTING THE TOWN OF PROSPER 2018 PROPERTY TAX RATE; LEVYING
TAXES FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING
SEPTEMBER 30, 2019, 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; PROVIDING A SEVERABILITY
CLAUSE; PROVIDING FOR A REPEALING CLAUSE; PROVIDING FOR THE
PUBLICATION OF THE CAPTION HEREOF ON THE TOWN'S HOME PAGE OF ITS
WEBSITE; AND PROVIDING FOR AN EFFECTIVE DATE.
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, 2018, and ending
September 30, 2019, 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 11th
day of September, 2018, the budget for the fiscal year beginning October 1, 2018, and ending
September 30, 2019; and
WHEREAS, all statutory and constitutional requirements concerning the levying and
assessing of ad valorem taxes have been complied with by the Town.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
herein.
SECTION 1
The findings set forth above are incorporated into the body of this Ordinance as if fully set forth
SECTION 2
The Town Council of the Town of Prosper, Texas, does hereby adopt and levy the following
tax rate of $0.520000 per $100 assessed valuation for the Town for tax year 2018 as follows:
$0.367500 for the purpose of maintenance and operation; and
$0.152500 for payment of principal and interest on debt service.
SECTION 3
The rate adopted is lower than the effective rate and lower than the rollback rate as calculated
according to the Truth In Taxation provisions of the Texas Tax Code, as amended, and the total levy
for maintenance and operations does not exceeds last year's levy for same.
THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS
THAN LAST YEAR'S TAX RATE.
SECTION 4
The Tax Assessor -Collectors for Collin County and Denton County are 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 5
All provisions of any ordinance in conflict with this Ordinance are hereby repealed; however,
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 6
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. The Town 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 7
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, By,f►IYRTf OF TO ON THIS THE 11TH DAY OF SEPTEMBER,
2018. } ��fii
.`l; • "'•.•II'`� APPROVED:
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op Ray Smith, M or
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Robyn Bat, -;'e, Town Secreta
APPROVED AS TO FORM AND LEGALITY:
Terrence S. etch, Town Attorney
Ordinance No. 18-72, Page 2