City proposes NNR tax rate
By Melinda L. Lucas
Albany’s city council met in special session on Monday night, Aug. 21 to propose a tax rate, electing to go with the “No New Revenue” (NNR) rate of 56.39 cents.
The NNR 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 61.04 cents and the previous year’s rate of 67.55 cents because of increasingly higher property values within the city limits.