Town Council to hold line on tax rate
Plans for memorial discussed at most recent meeting
Prosper Town Council met on Tuesday, August 10 for their first meeting of the month. The focus of this meeting was confirming the sales tax, as well as discussing the Fire Station construction budget, and the Memorial construction for Town Hall.
Town Manager Harlan Jefferson submitted the Proposed Budget to the Town Council for review. The council will hold a Town Hall meeting August 26th to hear public comments on the budget, and will vote on the budget in September.
The proposed budget addresses increased service levels to residents as the Town continues to grow. It also provides for required or recommended investments in infrastructure as well as increased monies to fund public safety resources. Additionally, at this time, the Proposed budget includes no increase in property tax rate, no increase in Utility rates, and increasing the employment budget for the safety personnel.
The council discussed and voted on the maximum proposed tax rate for this budget year. The rate will be .52 cents per $100 valuation.
“The growth in property values has allowed us to accelerate the 2020 Bond Program while still avoiding the projected tax rate increase,” Jefferson said. “We had previously anticipated a need to increase the property tax. The fact that we have been able to hold the line on the tax rate with no increase over the past 15 years is a testament to the commitment of the Town’s financial accountability.”
Additionally, during the meeting, the Fire Station budget and Memorial Wall budget were discussed. The Memorial Wall will be constructed at the Town Hall and will be the site for ceremonies and for visitor reflections.
The Town Council meets twice monthly, on the second and fourth Tuesday of the month. Residents are invited to attend either in person or virtually.