Public hearing rescheduled for Wednesday

By Melinda L. Lucas

Because of conflicts and illness, there were not enough Albany city council members to conduct business and hold the required public hearing associated with the adoption of the tax rate on Monday, Sept. 14.

Even though the council intends to operate on the “no new revenue” (NNR) tax rate for the upcoming fiscal year, new Texas tax laws call for publication of a notice at least five days before the public meeting.

The revised notice is being published in this week’s issue, with the rescheduled hearing set for Wednesday, Sept. 23 in the Aztec reception room, starting at 7:00 p.m.

Council members plan to adopt the NNR rate, formerly known as the effective tax rate, of 67.55 cents per $100 valuation, which was proposed at a meeting last month.

The NNR is based on a rate that would produce the same amount of taxes if applied to the same properties taxed the previous year.

In the City of Albany’s case, that rate is actually lower than the 2019 tax rate of 68.66 cents per $100 valuation because of higher values within the city limits.

The proposed tax rate of 67.55 cents is calculated to generate $478,104, not counting any new properties added to the tax roll this year.

The city’s fiscal year does not start until April, so unlike most other taxing entities, council members will not vote on a budget until next March.

Several other items of business will also be on the Sept. 23 agenda.