BY DARRELL HALEN

As local officials expected, Pelham’s 2006 property tax rate has fallen considerably because of a town-wide property revaluation.

The rate fell from $31.25 to $13.99 per $1,000 of assessed property valuation.

The new rate breaks down as follow: $3.24, town rate; $7.74, local school rate; $2.08, state school rate; and 93 cents, county rate.

Owners of a house now assessed at $350,000 will pay roughly $4,897 in property taxes over a year under the new rate.

This year, Vision Appraisal Technology of Northboro, Mass., reassessed properties throughout town to bring them in line with market values.

Officials at the state Department of Revenue Administration want to see local assessments within 90 to 110 percent of market values.

Previously, Pelham’s equalization ratio – a comparison of its assessed values to market values – was 43 percent. For example, a property that sold for $500,000 was assessed at $216,500.

The last time the town underwent a revaluation was in 1997.

Tax bills have been mailed. Payment is due by Dec. 18.