The real world image databases such as Flickr are characterized by continuous addition of new images. The recent approaches for image annotation, i.e. the problem of assigning tags to images, have two major drawbacks. First, either models are learned using the entire training data, or to handle the issue of dataset imbalance, tag-specific discriminative models are trained. Such models become obsolete and require relearning when new images and tags are added to database. Second, the task of feature-fusion is typically dealt using ad-hoc approaches. In this paper, we present a weighted extension of Multi-view Non-negative Matrix Factorization (NMF) to address the aforementioned drawbacks. The key idea is to learn query-specific generative model on the features of nearest-neighbors and tags using the proposed NMF-KNN approach which imposes consensus constraint on the coefficient matrices across different features. This results in coefficient vectors across features to be consistent and, thus, naturally solves the problem of feature fusion, while the weight matrices introduced in the proposed formulation alleviate the issue of dataset imbalance. Furthermore, our approach, being query-specific, is unaffected by addition of images and tags in a database. We tested our method on two datasets used for evaluation of image annotation and obtained competitive results.