13-56 O - Adopt FY 2013-2014 Tax Rate TOWN OF PROSPER, TEXAS ORDINANCE NO. 13-56
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS, ADOPTING THE
TOWN OF PROSPER 2013 PROPERTY TAX RATE, LEVYING TAXES FOR
FISCAL YEAR BEGINNING OCTOBER 1, 2013, AND ENDING SEPTEMBER
30, 2014, 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, 2013, and ending
September 30, 2014, 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 24th day of September, 2013, the budget for the fiscal year beginning October 1, 2013, and
ending September 30, 2014; 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, 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 2013 as follows:
$0.326191 for the purpose of maintenance and operation; and
$0.193809 for payment of principal and interest on debt service.
SECTION 3
Truth In Taxation Required Lanquaqe. 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.
THE TAX RATE WILL EFFECTIVELY BE RAISED BY 8.96 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS
ON A $100,000 HOME BY APPROXIMATELY $26.82.
SECTION 4
Truth In Taxation Reauired Web Postinq. 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 8.96 PERCENT AND
WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A
$100,000 HOME BY APPROXIMATELY $26.82.
SECTION 5
Place of Pavment/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
Savinqs/ 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
Severabilitv. 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.
Ordinance No.13-56,Page 2
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, BY A VOTE OF z TO Q, ON THIS THE 24TH DAY OF SEPTEMBER,
2013, AT A MEETING WHICH WAS HELD IN STRICT ACCORDANCE WITH THE TEXAS
OPEN MEETING ACT.
APP VED:
Ray Smith,(M
ATT T: 11
Robyn B�ttle, Town Secreta A.0'
i � •
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i .
APPROVED AS TO FORM AND LEGALITY: i •. ,:
lip
Terrence S. Welch, Town Attorney
Ordinance No.13-56,Page 3