Albany property taxes will drop after voters defeat bond for fire, police
ALBANY, Ore. - Voters in Linn County defeated a $20 million bond measure to pay for a new fire station and police headquarters.
The bond was for the same amount as an existing fire station bond set to expire at the end of the year.
If voters had passed the measure, taxes would not have gone up.
By defeating the measures, property tax payers in Albany will see their taxes go down next year.
When the existing bond expires December 31, property taxes in Albany will drop 43 cents per $1,000 of assessed value, the Linn County tax assessor confirmed.
For the owner of the average home assessed at $188,000, that translate to $76.50.
Assessed value is often lower than real market value in Oregon due to restrictions on property tax rates.