LEEDS – Selectmen have set the tax rate at $20.05 per $1,000 of valuation, a $1.25 decrease from last year.

The decrease was attributed to reductions in the school and municipal budgets, according to Administrative Assistant Jane Wheeler.

The town’s taxable valuation increased by more than $3 million, she announced.

The new rate equates to a $2,005 tax on a $100,000 property. Bills will be mailed on Sept. 1, with due dates of Nov. 1, 2006, and May 1, 2007.