The Prosper Board of Trustees adopted the Tax Rate at $1.4429, combining a Maintenance & Operations rate of $0.9429 and an Interest & Sinking rate of $0.50.  

This represents a reduction of 1.74-cents from the previous year, and a 12.55-cent decrease from 2019-20.  

Prosper ISD continues to be one of the fastest growing school districts in Texas and the nation, with student enrollment increasing by nearly 15% each year.  Prosper ISD enrollment increased by approximately 3,000 students last year.

And while the district lowered the tax rate for the third straight year, property values continue to climb. While this may seem like the district will gain additional dollars to fund schools, as the tax base goes up, the state reduces the amount it funds, based on the funding formula established by the state legislature.

Each year with property value growth, the portion of the district’s funding from the tax base increases and the state’s portion is reduced.  As a result, the district is anticipating receiving less money from the state in 2022-23 than it did in 2021-22. 

The district has more students and less funding from the state. While the district received around $87.5 million for the 2021-2022, the district is budgeted for $77 million for the 2022-2023, a decrease of approximately $10.5 million.