Prosper - Celina | July 2025

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

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