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Prosper residents will see a flat town property tax rate in the coming fiscal year as Prosper continues adapting to growing demands.
What happened: At their Sept. 16 meeting, Prosper Town Council members adopted the proposed FY 2025-26 budget and set the property tax rate of $0.505 per $100 valuation, which is the same as the current rate.
What you need to know: Although council members approved a flat rate, some Prosper residents may still see higher tax bills due to rising property values. Additionally, Town Council also adjusted how the rate is allocated, slightly reducing the capital dedicated portion of the property tax rate while increasing the general fund and debt service portion, keeping the overall rate the same.
Zooming in: The budget includes funding for 23 new full-time positions, but 20 will receive funding Feb. 1 instead of Oct. 1 to help balance the town’s health insurance fund.
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