New London — Residents later this month should expect revised tax bills for real estate and personal property that reflects a reduction in the city’s tax rate.

The bills are based on the city’s new tax rate of 43.17 mills, the result of a final budget passed in October. The City Council on Tuesday approved additional budget appropriations.

Tax bills sent out over the summer, for the fiscal year that began on July 1, were based on a tax rate of 44.26 mills. New London taxpayers should not pay the second installment of the original tax bills.

The new bills will take into account any payments received on the original tax bill. For those people that paid the entire bill, the extra money will be reflected as an overpayment. Overpayments can be used as credits toward next year’s tax bill or can be refunded upon request.