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Council receives preliminary FY25‑26 budget, accepts tax calculations and schedules hearings; proposes 0.505 tax rate
Summary
Council received the town manager's preliminary FY25‑26 budget, accepted county‑certified tax calculations and set the proposed property tax rate and public hearings for September 16; motions on tax calculations and scheduling passed unanimously.
Prosper’s Town Council received a transmittal of the town manager’s preliminary budget for fiscal year 2025–26 on Aug. 12 and acted on related tax‑rate procedural items required by state law.
Finance staff presented highlights of the town manager’s preliminary budget, including proposed personnel additions (20 new positions overall, with the largest increases in public safety and the phased staffing of a new fire station), fund transfers and proposed user‑fee changes. Chris Landrum (finance) reviewed revenue drivers and said much of the general‑fund increase reflects moving public‑safety personnel costs into the general fund, changes to pay structure following a recent market study, and proposed fee adjustments (e.g., development and engineering fees). Landrum also summarized proposed utility rate adjustments to reflect higher wholesale water/wastewater costs.
The council also accepted the county’s official tax calculations for tax year 2025: a “no new revenue” tax rate of $0.482348 per $100 of taxable value, a voter‑approval tax rate and a preliminary property tax rate of $0.505 per $100 of taxable value. The council voted unanimously to accept those calculations, as required for the budget and tax‑notice process.
Separately, the council placed a proposal to adopt a FY25‑26 tax rate not to exceed $0.505 per $100 of taxable value on the Sept. 16, 2025 council agenda and scheduled the public hearings on the proposed budget and tax rate for Sept. 16. All motions concerning the tax calculations and scheduling passed unanimously.
Staff described next steps: a public budget town hall on Aug. 28 and a special called meeting on Sept. 16 for hearings and adoption of the budget and tax rate. Finance staff cautioned that some capital‑improvement program amounts remain subject to CIP subcommittee review and that utility rate adjustments reflect higher wholesale costs and planned new wastewater capacity investments.
Speakers included Chris Landrum (finance presentation) and the town manager, who emphasized personnel and public safety staffing as priorities for the proposed budget.
