THOMASTON – The town’s tax rate has dropped for the third year in a row, so most homeowners and business owners should see a decrease in the amount they must pay in 2004 property taxes.

The new rate is $22 per $1,000 of assessed property value, Town Manager Valmore Blastow Jr. said Thursday.

That is 80 cents less than last year’s rate.

As long as property owners have not increased the value of their homes or businesses with construction or other improvements, their tax bills should be less this year.

Although the tax rate dipped last year, too, a revaluation of properties resulted in higher tax bills for most property owners.

The municipal cost for 2003-2004 is $986,888; Knox County assessment, including dispatch fees, $246,226; and SAD 50, $2,586,197.

Tax bills are expected to be mailed to residents sometime in mid-October, Blastow said. Half of the bill is due Dec. 8 and the remainder must be paid by June 7.