MEDWAY – Residents will find an increase of just over 2 percent in this year’s tax bills, which are expected to arrive today or Saturday, according to town officials.

At a special meeting last week, selectmen set the 2003-04 mill rate at $22.25 per $1,000 of valuation, according to Administrative Assistant Kathy Lee. The increase on a house valued at $50,000 would be $25, not including the property.

Although this year’s school and municipal budget of $3.4 million dropped by nearly 2 percent from last year, decreases in incoming funds contributed to the tax increase.

This year’s mill rate is still lower than the $23 rate projected when this year’s $3.4 million was approved in June, Lee said.

Payments for tax bills are due Dec. 31.