Annual Report

Prosper in 2024

As we reflect on the achievements of 2024, Prosper has made significant strides in infrastructure development, economic growth and enhancing the quality of life for residents. The Town's commitment to providing exceptional municipal services, community engagement and preparing for a bright future continues to drive Prosper’s progress.

2024 Highlights: A Year of Milestones and Progress

  • Financial Relief for Residents: In 2024, Prosper took decisive steps to provide financial relief, reducing property taxes by half a cent—the lowest rate in nearly two decades—and raising the homestead exemption to 17.5%. These initiatives help alleviate financial burdens for residents while supporting the Town’s long-term growth. View the Fiscal Year 2024-2025 Adopted Budget page for more information. 
  • Lakewood Park Grand Opening: The opening of Lakewood Park marked a significant milestone in Prosper’s commitment to creating vibrant outdoor spaces for residents. The park’s completion is just one example of Prosper’s dedication to enhancing recreational opportunities.
  • Strategic Infrastructure Improvements: Major roadway projects, such as the upgrades to First Street, Legacy Drive, and the anticipated completion of Raymond Community Park, are set to improve accessibility and overall connectivity. These investments are essential as Prosper continues to accommodate rapid growth and prepare for future development.
  • Downtown Prosper Vision: Efforts to transform Downtown Prosper into a bustling hub for both residents and visitors are gaining momentum. The Town's Downtown Master Plan aims to blend Prosper’s historic charm with modern amenities, ensuring the area becomes a vibrant center for commerce and community activities.
  • Economic Development and New Business Openings: With the opening of major retail establishments like HEB and Costco, Prosper is not only increasing shopping options but also boosting the local economy. These developments reflect the Town’s proactive approach to attracting businesses that meet the diverse needs of its growing population.

Looking Ahead

As we move into 2025, Prosper remains committed to its vision of a connected, accessible, and thriving community. The Town’s focus on accelerating infrastructure projects, including road improvements and water utility upgrades, will continue to ensure that Prosper is prepared to meet the demands of its expanding population.

Plans for ongoing park developments, such as the Raymond Community Park investment of $23 million, will continue to provide residents with ample recreational opportunities. These projects, along with investments in commercial corridors and partnerships with private developers, will ensure Prosper remains a great place to live, work and play.

Prosper’s dedication to municipal excellence remains strong as we continue to work collaboratively with residents, businesses and partners to shape the future of our community.

Stay Informed

Residents are encouraged to stay engaged with the ongoing developments in Prosper. For updates on upcoming projects and Town news, follow us on social media or subscribe to our newsletter. Together, we will continue to build a Prosper that’s even better for future generations.

Helpful Resources