City proposes NNR tax rate

By Melinda L. Lucas

A quorum of the Albany city council met in special session on Tuesday night, Aug. 23 to propose a tax rate, acting on the recommendation of city manager Billy Holson to go with the “No New revenue” (NNR) rate of 61.04 cents.

The NNR rate, formerly called the effective tax rate, is calculated to produce the same amount of taxes if applied to the same properties taxed the previous year, and is actually lower than last year’s rate of 67.55 cents because of higher property values.

The NNR rate is calculated to generate $597,217, and is expected to be adopted at the next regular meeting on Sept. 12 after the required notice is published.

The motion was made by Austin Sherwood, seconded by Lester Galbreath. Lynsi Musselman was also present and voted in favor.