LEEDS – Selectmen have adopted a new tax rate that is $1.20 less than last year’s rate of $18.85 per $1,000 of assessed value, according to Administrative Assistant Jane Wheeler.

That means tax bills will be $120 less on a house valued at $100,000, for example.

The lower rate is due in part to smaller town and school budgets, Wheeler said, adding that the school budget is $39,794 less and the municipal budget is $9,596 less.

The town also picked up more than $2 million in new valuation, which helped lower the rate.