NOTICE OF 2018 TAX YEAR PROPOSED PROPERTY TAX RATE FOR TOWN OF DOUBLE OAK

Aug 24, 2018 by

NOTICE OF 2018 TAX YEAR PROPOSED PROPERTY TAX RATE FOR TOWN OF DOUBLE OAK

A tax rate of $0.23240 per $100 valuation has been proposed by the governing body of Town of Double Oak. This rate exceeds the lower of the effective or rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate.

 

The governing body of Town of Double Oak proposes to use revenue attributable to the tax rate increase for the purpose of general municipal operating expenses.

Proposed Tax Rate: $0.23240 per $100

Preceding Year’s Tax Rate: $0. 23240 per $100

Effective Tax Rate: $0.2199977 per $100

Rollback Tax Rate: $0.237596 per $100

 

The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for Town of Double Oak from the same properties in both the 2017 tax year and the 2018 tax year.

 

The rollback tax rate is the highest tax rate that Town of Double Oak may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.

 

YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:

property tax amount = (rate) x (taxable value of your property) / 100

 

For assistance or detailed information about tax calculations, please contact:

Michelle French

Denton County Tax Assessor/Collector Tax Assessor-Collector

1505 E McKinney Street Denton, TX 76209

940-349-3500

property.tax@dentoncounty.com

tax.dentoncounty.com

 

You are urged to attend and express your views at the following public hearings on proposed budget and  tax rate:

First Public Hearing: 09/04/2018 7:00 PM at 320 Waketon Road, Double Oak, TX 75077

Second Public Hearing: 09/17/2018 7:00 PM at 320 Waketon Road, Double Oak, TX 75077

Special Called Meeting to adopt the budget and tax rate:  09/24/18 7:00 PM at 320 Waketon Road, Double Oak, TX 75077

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