The Double Oak Town Council adopted their 2010-2011 budget on Sept. 10 with no tax increase despite lower property tax revenue.
Town officials said that they anticipated a possible reduction in property tax assessments based on current economic conditions.
“The town council, departments, employees and our wonderful residents all recognize that times are tough on everyone right now with today’s economy. I commend the town treasurer, council, employees, departments and our residents for presenting a final budget that does not burden our Double Oak residents this next fiscal year with an increase to the town property tax rate,” said Mayor Mike Donnelly.
The current town property tax rate remains at .22481 cents per $100 of valuation in the approved budget. The new fiscal year begins on October 1st.
“The adopted 2010-2011 budget reflects a conservative outlook and keeps the town property tax rate unchanged. Double Oak’s overall municipal property tax rate remains one of the lowest in all of Denton County,” added Donnelly.