City proposes same tax rate as last year

By Melinda L. Lucas

Members of the Albany city council met briefly on Tuesday night, Aug. 17 to propose a tax rate, discussing a couple of options but agreeing that they would keep the same rate as last year, 67.55 cents, which is about 2.5 cents higher than the “No New Revenue” (NNR) rate of 65 cents.

The NNR rate was formerly called the effective tax rate, and is calculated to produce the same amount of taxes if applied to the same properties taxed the prvious year.

In the City of Albany’s case, the NNR rate is actually lower than the 2020 tax rate because of higher property values inside the city limits. The city is not as affected by fluctuating mineral valuations.

City manager Billy Holson went through tax rate information provided by the Shackelford County appraisal office, stating that he plans to use any additional tax revenues for capital outlay such as street repair and sewer improvements.

The 67.55-cent rate is calculated to generate $488,146 in tax revenue, about $18,500 more than last year.

“We’ve been able to put $130,000 of asphalt on the ground this summer,” said Holson, “and what we spent went a lot further because we did it ourselves.”

Even though many of his summer employees are gone, the city manager hopes to continue making street improvements while the weather is still warm.

“The council wants to do our best for our citizens,” said Albany mayor Susan Montgomery. “While setting a tax rate, we try to keep in mind the overall well-being of our city with some long-range planning.” 

The proposed rate of 67.55 cents was approved on a motion by Austin Sherwood, seconded by Don Taggart. 

Lynsi Musselman and Ragan Riley also voted in favor to make it a unanimous decision. Councilman Lester Galbreath was unable to be present.