BETHEL – Within a week, property owners can expect new tax bills, which will be based on a new rate of $17.86 per $1,000 of value. It was set Wednesday morning by the Board of Assessors.

The rate is for fiscal 2007, which runs from July 1 through June 30, 2007.

According to a Wednesday news release, the rate, which represents a 1 percent increase over last year’s $17.68 rate, creates a total tax commitment of $4,006,292 to be levied against $224 million worth of taxable property in Bethel.

The tax levy will be used to meet a school assessment of $2,236,233, a county assessment of $215,421, and 59 percent of the town’s municipal expenditure of $2,812,048.

The release stated that in the past 12 months, Bethel saw a 3 percent increase in its tax base value, and larger percentage increases in municipal, school and county spending.

At town meeting in June, voters seeking to avoid a higher tax rate, agreed to use $100,000 of $827,000 in surplus funds to offset taxation.

To avoid a 7 percent interest charge, the town must receive the first payment by Nov. 15, and second payment by May 15, 2007.

In other matters, assessors have been conducting a town-wide inspection and revaluation of taxable properties. The work, expected to be completed in mid-2007, will prompt mailings of advisory notices to taxpayers at that time, the release stated.

New values, which will go into effect for fiscal 2008 tax bills, will reflect market conditions and replace tax values developed in the 1980s.