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Prosper Council adopts $125 million FY2025–26 budget, raises property tax rate to 50.5 cents
Summary
The Prosper Town Council on Sept. 16 adopted a $125 million budget for fiscal year 2025–26 and approved a property tax rate of $0.505 per $100 valuation, a 4.7% increase. Council also approved related motions on the capital plan and ratified the budget.
The Prosper Town Council on Sept. 16 adopted the town's fiscal year 2025'26 budget and approved a property tax rate of $0.505 per $100 of taxable value, a 4.7% increase over the prior rate.
The adopted budget totals "just shy of $125,000,000," with about $68 million drawn from the general fund, the staff presentation said. Council voted to delay funding for certain new positions until Feb. 1 to help address higher-than-expected health insurance costs and to preserve fund balance targets.
The budget'presentation tied spending to the council's strategic priorities and listed mitigation steps staff…
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