Government
BY JACQUELYN BURRER
Prosper council plans budget adjustments, keeps tax rate flat
Prosper Town officials have started the budget process, which shows a need to reallocate expen- ditures to meet growing demands. Early talks in June show residents will not see a property tax increase for the 2025-26 fiscal year, and town officials are expected to approve the budget in September. What happened At its June 24 work session, Prosper Town Council discussed the preliminary budget for fiscal year 2025-26 and how Prosper will adjust to slower growth and changes in sales tax revenue. Chris Landrum, Prosper’s finance director, said the town is still in growth mode, but sales tax revenue is not increasing as fast as previous years because some of the sales taxpayers are moving out of town quicker than anticipated. “The sales tax [decreased growth] just hap- pened maybe one year quicker than we otherwise anticipated,” Landrum said.
Prosper sales tax general fund revenue since 2020
Prosper's property tax rate per $100 valuation
$0.6
$15M $12M $9M $6M $3M $0
+1.89%
+9.46% +5%
+14.62%
+15.25%
$0.4
+34.71%
$0.2
$0
2020
2021
2022
2023
2024
2025 2026
2020-21
2021-22
2022-23
2023-24
2024-25
SOURCES: U.S. CENSUS BUREAU, PROSPER ECONOMIC DEVELOPMENT CORPORATION/COMMUNITY IMPACT
falls $53,380 short of its minimum reserve. Despite the slight projected shortfall, Landrum said property taxes are not expected to be affected, which means they will remain at the previous rate of $0.505 per $100 valuation.
Current situation Landrum said Prosper is required by its town charter and policy to maintain a combined 21% reserve fund, meaning that as expenditures increase, reserve funding also must increase. The projected budget currently shows Prosper
Play. Laugh. Chase. Jump.
Same-Day Care Sick Visits • Hormone Therapy Weight Loss • Annual Exams Chronic Disease Management Botox • Fillers for the entire family erapy ams ement family Day
Don’t let pain or leaks steal these moments from you. Get back to living fully—with expert pelvic floor physical therapy.
BOOK
YOUR VISIT
NEW PATIENTS ALWAYS WELCOME WAYS WELCOME
To Schedule, Call/text Nessa at 214-600-8168
See all of our services moderaclinic.com
Call or Text 469.253.5105
www.thefitpelvis.com
10
COMMUNITYIMPACT.COM
Powered by FlippingBook