15-60 - OTOWN OF PROSPER, TEXAS
ORDINANCE NO. 15-60
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, ESTABLISING A HOMESTEAD TAX EXEMPTION IN THE AMOUNT OF
9#� ( PERCENT (2.r/o) OF THE APPRAISED VALUE OF THE
HOMESTEAD; 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,
the Town Council recommended an exemption of -percent
in a meeting of the Town Council on September 22, 2015.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, THAT:
SECTION 1
From and after the effective date of this Ordinance, a homestead exemption of 4
percent -2-6'%) is granted to all qualified homeowners subject to the Town's property tax
pursuant to the laws of the State of Texas regulating the assessment of ad valorem taxes. If this
percentage produces an exemption of less than five thousand dollars ($5,000) when applied to a
particular residence homestead, the individual shall be entitled to an exemption of five thousand
dollars ($5„000) of the assessed value of the property.
SECTION 2
The Chief Appraiser for the Denton County Appraisal District and the Collin County
Appraisal District shall give appropriate notice to the general public advising it of the availability of
the exemption.
SECTION 3
This Ordinance shall apply to the 2016 tax roll and all subsequent tax rolls unless repealed
or amended by ordinance.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, BY A VOTE OF -(Q TO , ON THIS THE 22ND DAY OF SEPTEMBER,
2015.
APPROVED:
Ray Smi�h, Mayor
APPROVED AS TO FORM AND LEGALITY:
Terrence S. Welch, Town Aov-
lor
Ordinance No. 15-60, Page 2