VERGENNES — Vergennes homeowners will see slightly lower tax rates when they receive property tax bills mailed on Thursday but owners of commercial and rental property will be looking at increases of a little more than 2%.

The city’s homestead property tax rate is dropping 3.38 cents, or a little more than 1%, to $2.7379 per $100 of assessed property value.

That decrease translates to about $85 less in taxes for $250,000 homes, assuming the owners pay on their properties’ full assessed value. Two-thirds or more of Vermont homeowners pay property taxes based on their incomes, and the effect of the change will vary.

Within the homestead rate, 91.59 cents is paying for municipal services and voter-approved tax breaks for disabled veterans and nonprofit entities, and $1.8220 is dedicated toward funding Addison Northwest School District education.

The municipal rate, set by the city council, is 1 cent lower than last year, and the school rate dropped by 2.38 cents, in line with ANWSD residential tax rate estimates released earlier this year.

The city’s overall non-residential tax rate rose 4.84 cents, or a little less than 2%, to $2.67.

That increase equals a little more than an additional $48 of taxes per $100,000 of assessed value for commercial or rental property and second homes in Vergennes.

Again, the municipal side of the rate dropped by a penny, but in this case the non-residential school tax rate rose by 5.84 cents.

Tax bills recently mailed out in Addison and Ferrisburgh contained largely similar decreases for homeowners and increases for owners of non-residential properties.

Panton and Waltham selectboards have yet to mail out tax bills. Panton Town Clerk Maggie McCormick confirmed decreases in that town’s school tax rates, but said the selectboard would not make final the town’s municipal rate until later this month. Waltham tax rates are not expected until early August.