LISBON – Lisbon taxpayers can expect good news when they open their tax bills this year: The tax rate is expected to remain the same as last year, $25.25 per thousand dollars valuation, rather than increase as predicted.

After the May town meeting, Town Manager Curtis Lunt projected the “smallest tax increase in years,” about 30 cents, which was good news at the time.

But in a draft review presented to selectmen Tuesday night, Assessor Gerald Samson said increases in taxable commercial and residential properties had resulted in enough additional revenue to offset the need for a hike in the mill rate.

Thirty-two new homes and commercial construction added to the tax rolls this year will result in an extra $13 million in new taxable property, Samson said.

His projections were met with enthusiasm from selectmen. “This is very good news,” said Chairman E. Charles Smith.

Officials expect to officially set the tax rate at the Aug. 5 selectmen meeting.

Samson also told selectmen that the town will need a revaluation soon. The last one began in 1988 and was completed in 1990.

The town’s ratio is now pegged at 90 percent, Samson said. He added that the town had to start planning because revaluation companies are backed up and need two years advance notice.

It would take another year to complete the revaluation, he said, which means that if the question is approved by voters at the 2004 town meeting, it would be at least 2007 before a revaluaiton could be completed.