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20140923 Proposed Budget Presentation
Town of Prosper, Texas Proposed Budget and Tax Rate September 23, 2014 No Tax Rate Increase No Water or Sewer Rate Increase No Solid Waste Rate Increase No Storm Drainage Fee Increase No Other Fee Increases Proposed FY 2014-2015 Budget Includes: 2 Public Safety Streets Parks Proposed FY 2014-2015 Budget Focus: 3 Primary Fund Summaries 4 Fund Account Type 2013-2014 2014-2015 Change $Change % General Revenue (11,761,317)(14,506,034)(2,744,717)23.3% Expenditure 12,457,760 14,415,741 1,957,981 15.7% Revenues (over)/under expenditures 696,443 (90,293) Water/Sewer Revenue (8,975,450)(10,295,293)(1,319,843)14.7% Expenditure 9,277,338 10,357,475 1,080,137 11.6% Revenues (over)/under expenditures 301,888 62,182 Debt Service (I & S)Revenue (2,823,240)(2,955,065)(131,825)4.7% Expenditure 2,821,380 2,870,065 48,685 1.7% Revenues (over)/under expenditures (1,860)(85,000) Storm Drainage Revenue (230,400)(272,000)(41,600)18.1% Expenditure 394,000 283,186 (110,814)-28.1% Revenues (over)/under expenditures 163,600 11,186 Four Primary Funds Revenue (23,790,407)(28,028,392)(4,237,985)17.8% Expenditure 24,950,478 27,926,467 2,975,989 11.9% Revenues (over)/under expenditures 1,160,071 (101,925) Prosper Adopted Tax Rate 5 $0.0000 $0.1000 $0.2000 $0.3000 $0.4000 $0.5000 $0.6000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014Tax Rate per $100Tax Year Property Tax Rate Comparison (2013 Tax Rates) Source: Collin, Dallas, and Tarrant Central Appraisal Districts. - 10.00 20.00 30.00 40.00 50.00 60.00 70.00 80.00 90.00 100.00 6 Conclusion •Tax rate remaining at $0.52/$100 •Town of Prosper is 21% of total tax bill •Effective tax rate increase is 11.07% •Average homeowner tax bill increase is 7.8% 7 Prosper Tax Comparison 8 FREEZE-ADJUSTED TAXABLE VALUE COLLIN DENTON 2014 CERTIFIED VALUE $1,688,310,574 $64,944,344 2013 CERTIFIED VALUE $1,395,237,284 $52,228,931 CHANGE $$293,073,290 $12,715,413 CHANGE %21.01%24.35% AVG SINGLE FAMILY HOME 2014 $378,651 $175,686 AVG SINGLE FAMILY HOME 2013 $351,317 $162,970 AVG SF HOME CHANGE $$27,334 $12,716 AVG SF HOME CHANGE %7.78%7.80% IMPACT ON AVERAGE HOME OWNER TOWN TAX BILL 2014 $1,969 $914 TOWN TAX BILL 2013 $1,827 $847 CHANGE $$142 $66 CHANGE $7.78%7.80% Prosper Property Tax Rate 9