11-062 - OORf)INAN(-' NO, 11-62
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS LEVYING TAXES FOR FISCAL
YEAR 13EGINNING OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2012 AT THE RATE
OF $0.52 PER ONE HUNDRED DOLLARS (5I00.00) ASSESSED VALUE ON ALL TAXABLE
PROPERTY WITHIN THE CORPORA'] I E LIMITS OF THE TOWN OF PROSPER, TEXAS IN
ACCORDANCE WITH EXISTING STATUTORY REQUIREMENTS AND PROVIDING FOR
THE PUBLICATION OF THE' CAPTION HEREOF ON ]'HE TOWN'S HOME PAGE OF ITS
WEBSITE.
WHEREAS, the Town Council of' the Town of Prosper, 1'exas (hereinafter referred to as the
"']'own") hereby finds that the tax for the fiscal year beginning October 1, 2011, and ending Septernber
30, 2012, hereinafter levied for Current expenditures of" the. Town and the general improvernents of the
Town and its property 1-nUst be levied to provide revenue requirenients lot- the budget for the ensuing year;
and
WHEREAS, the Town Council has approved, by separate ordinance to be adopted on the 13"' day
of'Septernber, 2011, the budget for the fiscal year beginning October 1, 2011 and ending September 30,
2012; and
WHEREAS, all statutory and constitutional requirements concerning the levying and
assessing of ad valorem taxes have been complied with,
NOW TfIEREFORE, BE, IT ORDAINED BY THE TOWN COUNCIL OF THE 'TOWN Of'
11ROSI)ER,TEXAS, COLLIN CO(JNTY,Tf.,'1XAS:
SMIJON 1. 'i ijd�i qg,� )r�jt d. The findings set f(..)rtli above are incorporated into the
L— J11!�qrj1p
body of this Ordinance as if Fully set. forth herein.
SECTION 2: A
do _fkgq_pf_'faN_,.R-qte. We the Town Council of the Town of Prosper do hereby
levy or adopt the tax rate of 50.52000 per 5100 valuation for the Town for tax year 2011-2012 as follows:
$0.316937 for the purpose ofinaintenance and operation and
$0.203063 for payment of principal and interest on debt service.
SECT] ON 3: '-FrUth In Taxati.QP Re.qu 1.
d ,
jiie ijMtr ge, While the rate adopted is lower than both
the effective and rollback rates as calculated according to 'I"I'Llth In Taxation, the total levy for
maintenance and operations exceeds last year's levy for the sarne. As a result, the following staternent
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.
Page 1 of 2
SECTION 4: Truth ]if Taxatiojj-R quircd Web Postifig, While the rate adopted is lower than
both the effective and rollback rates as calculated according to 'Truth In Taxation, the total levy for
maintenance and operations exceeds last year's levy for the sane. 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.
sf,rrm 5: place of
- - - - - ------- . ....... . .... --- "-'---'-"-._-- 1) - 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 ]own shall have all rights and remedies provided by the law for the enforcement of the
collection of taxes levied under this ordinance,
SECTION-6.: 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 frorn 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: Severability. Should any section, Subsection, sentence, clause or phrase of this
I.-.-.-...-- . . .... . ..... — . ....... .
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: 11 fTective Date. This Ordinance shall become effective fi-orn and after its adoption
........ .. -1-1-1---l-11-11-11- i:�-, ..... . . . . .... ...
and publication as required by law.
DULY PASSED AND APPROVI`J) 13Y THE' TOWN COUNCIL OF TOWN OF
PROSPER, TEXAS ON THIS 13`1' DAY Of` SEPTEIMBER, 2011 AT A MEETING WHICH WAS
HELD IN STRICT' ACCORDANCE WITI I THE TEXAS OPEN MEETING AC]"
. . .. ... .........................
IiA SMI Mayor
ATTESTTO:
,2
Y I111tj C
""own Secretary
Dale, (?/ Publicalion J -21 -I1 in the Prosper Press
Page 2 of 2
3�•�
CC: Mike Land, Town Manager
Date: September 8, 2011
Agenda Item:
Consider and act upon an ordinance adopting the Town of Prosper 2011 Property Tax Rate.
Description of Agenda Item:
This item is to adopt the 2011 tax rate to generate sufficient revenues as required in the
Adopted 2011-2012 Budget. The attached ordinance sets the ad valorem tax rate for
2011-2012 at 0.52 cents per $100 assessed valuation, to be distributed as follows:
Totaling
Budget Impact:
Rate as included in the Proposed Budget for FY2011-2012.
Legal Obligations and Review:
N/A
Attached Documents:
Ordinance Adopting the Town of Prosper 2011 Property Tax Rate
Board/Committee Recommendation:
N/A
Town Staff Recommendation:
Town staff recommends that the Town Council approve the ordinance adopting the Fiscal Year
2011 tax rate using the language below,
Please make your motion in this form
I move to approve the ordinance setting the 2011 property tax rates, adopting of a total tax rate
of fifty-two (52) cents per $100 assessed valuation, which is the current rate and less than both
the effective and rollback tax rates. This includes 31,6937 cents for Maintenance and
Operations and 20.3063 cents for Debt Service."
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