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.