2020-2021 Fiscal Year Budget and Tax Rate
The process has begun to develop the next fiscal year budget. As you may recall from the last legislative session, a top priority of our state leaders was tax reform and to pass Senate Bill 2 (SB2). This reform measure is meant to slow the growth of property tax bills and requires voter approval before local governments increase their property tax revenue by more than 3.5%.
The town of Double Oak intends to follow SB2 as the 2020-2021 fiscal year budget is developed which will not exceed the 3.5% year over year revenue limit and the town will not increase the current .2300 cent tax rate. Double Oak’s tax rate is one of the lowest in Denton County and the town remains debt free.
The town will hold a public hearing, adopt the budget, and set the tax rate in September. The new fiscal year begins October 1, 2020.
Please contact town hall if you have comments or questions regarding the budget process.
Timberleaf Drive Asphalt Paving Project
The town received six bids to pave the portion of Timberleaf Drive located between Cedarcrest Lane and Simmons Road. The project will be awarded in August and completed in the current fiscal year. A communication will go out once the contractor sets the paving schedule.
Waketon Road Improvement Project Update
This project will improve Waketon Road in Double Oak and Flower Mound. Advertising for bids has begun. Utility relocations are ongoing. Stayed tuned for further updates.
Double Oak Drainage
Please contact town hall to let staff know if storm water entered your home from the June 23, 2020 storm event. It would be helpful if you could provide pictures and other documentation that can be shared with the town’s engineering firm as they continue their study of current drainage patterns.
Within the last five years, the town commissioned a drainage study known as the Cross Timbers Drainage Project. The town still needs the donation of several easements from property owners. Some easement requests were met with a reply of No and/or the property owner requested several thousands of dollars for the easement. There remain legal and engineering factors that have not been cleared to date including a Kings Road impact drainage study. And last but not least is having the available funds for this project when it is cleared to proceed. In most years, town councils have been able to save some funds at the end of the fiscal year that goes back into our fund balance sheet.
Double Oak thanks Denton County Precinct 4 Commissioner Dianne Edmondson and her staff for the continued support provided to our town and our Precinct 4 neighbors. You are doing a great job Commissioner!
Best wishes to all of our students and our two school districts as they prepare for the new school year.