2022-55 - O - Adopting FY 2022-2023 Property Tax Rate 09.13.22TOWN OF PROSPER, TEXAS
ORDINANCE NO. 2022-55
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF PROSPER,
TEXAS, ADOPTING THE TOWN OF PROSPER 2022 PROPERTY TAX RATE;
LEVYING TAXES FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022,
AND ENDING SEPTEMBER 30, 2023, AT THE RATE OF $0.51 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 REPEALER 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, 2022, and ending
September 30, 2023, 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
13th day of September, 2022, the budget for the fiscal year beginning October 1, 2022, and ending
September 30, 2023; 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:
SECTION 1
The findings set forth above are incorporated into the body of this Ordinance as if fully set
forth herein.
SECTION 2
The Town Council of the Town of Prosper, Texas, does hereby adopt and levy the
following tax rate of $0.5100 per $100 assessed valuation for the Town for tax year 2022 as
follows:
$0.329830 for the purpose of maintenance and operation; and
$0.180170 for payment of principal and interest on debt service.
SECTION 3
The rate adopted is higher than the no -new -revenue rate and lower than the voter -
approval 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 exceeds last year's levy for same.
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 12.29 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON
A $100,000 HOME BY APPROXIMATELY $1.83.
The Town's website shall reflect the foregoing statements, pursuant to applicable
provisions of the Texas Tax Code, as amended.
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 A VOTE OF TO E, ON THIS THE 13TH DAY OF SEPTEMBER,
2022.
APPROVED:
David F. Bristol, Mayor
Ordinance No. 2022-55, Page 2
ATTEST:
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Michelle Lewis Sirianni, Town Secretary
APPROVED AS TO FORM AND LEGALITY:
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Terrence S. Welch, Town Attorney
Ordinance No. 2022-55, Page 3