Residential and commercial property tax rates in the city of Boston are set to rise roughly 2 percent and 3 percent in fiscal 2012, respectively.

The fiscal 2012 tax rate for residential property is $13.04 per thousand dollars of valuation. The rate for business properties is $31.92 per thousand.  Last fiscal year’s rates for residential and business properties were $12.79 and $31.04, respectively, according to a statement.

Boston’s total assessed value for fiscal 2012 is $88.5 billion, an increase of 2 percent from last year, the city said. The total fiscal 2012 tax levy is expected to be $1.615 billion, an increase of $75 million over last year.  New construction and properties being added to the tax base accounted for $36.5 million of the growth, while the remaining $38.5 million is attributed to the 2.5 percent increase allowed under the provision of Proposition 2 ½.

The average single family tax bill is expected to increase by $150, to $3,305 from $3,155 last year for taxpayers receiving the residential exemption. This increase is slightly less than what residential taxpayers experienced recently – the increase was $221 last year, and $173 in the prior year.

The average residential tax bill in Boston is 27 percent below last year’s statewide average of $4,537, the city said in a statement.