St. George — On Monday, July 30, the select board set the tax rate at $7.70 per $1,000 in assessed property value. Last year's 18-month budget mil rate was $10.30.

During the July 16 meeting, the board voted to reduce land values based on state information from property sales from July 2011 to June 2012.

Waterfront land values were reduced by 10 percent and interior land values were reduced by 5 percent.

The total land value of the town is down 4.6 percent from $892 million last year to $851 million this year.

According to Town Manager John Falla, tax bills will be issued this week. He said the new tax rate is consistent with the previous 18-month tax rate. The slight tax rate increase is offset by the lower property assessments.

Courier Publications reporter Juliette Laaka can be reached at 594-4401 ext. 118 or via email at JLaaka@courierpublicationsllc.com.