The Double Oak Town Council last weekend approved the 2015 – 2016 budget and tax rate increase from current 0.22481 per $100 evaluation to 0.23240 per $100 of valuation. That’s an increase of .00759 over last year’s rate.
The council has been discussing the upcoming budget since July and has received public comments during the process.
The town has for the last few years balanced the adopted budgets by bringing over funds from the general fund balance sheet. The tax rate increase will help decrease the town’s annual budget deficit, said Mayor Mike Donnelly.
Additionally, the town has been discussing calling for a one-percent sales tax election in May 2016.