Windham’s 2006 property tax rate has been set at $15.35 per $1,000 of assessed property valuation. Although town and school spending increased, and there is a significant bond payment for the town’s planned high school, the rate is down from $19.46 because of a property revaluation.

The average homeowner, a resident who owns a single family home worth $400,000, will see an increase of roughly $900.

The new rate breaks down as follows: $2.95, town rate; $9.26 local school rate; $2.28, state school rate; and $.86, county rate.

Bond payments for the new high school increased about $3 million. An interest payment of roughly $1 million was previously made. The new tax rate reflects roughly $4 million spent on the school.

The school district is paying a principal payment of approximately $2.58 million and two interest payments totaling roughly $1.6 million, according to Brian Gallagher, business administrator for the Windham school district.

Other contributing factors for the new tax rate include roughly a half-million dollar increase in town spending and a 4 percent increase in the school district’s operating budget.

A property revaluation was done this year to bring assessed values in line with market values.

Previously, the town was at an equalization ratio – comparing assessed values to market values – of 70 percent, according to Rex Norman, the town’s assessor.

Tax bills will probably go out in the next few weeks and will probably be due in late December, according to Town Administrator David Sullivan.