Prosper Town Council approved a property tax rate of $0.505000 per $100 in valuation, which is equal to the FY 2025-26 property tax rate, at a Sept. 8 meeting.
What residents should know: Despite the level property tax rate, the average resident’s tax bill is expected to increase from $3,518 in FY 2025-26 to $3,633 in FY 2026-27, according to a presentation by Finance Director Chris Landrum.
Budget explained: Expenditures in the town’s general fund are expected to increase roughly 6% compared to last year’s budget, including an 11.5% increase in recurring expenses, according to Landrum’s presentation.
Who it's for: Personnel-related budget increases reflect additional compensation for existing employees, especially for public safety employees like police officers, firefighters and dispatch operators.