Westport’s Grand List is … grand.
Town Assessor Paul Friia has announced that 2021’s net Grand List of $11,100,020,664 represents an increase of approximately 2.4 percent from the previous year’s $10,830,370,714.
The Grand List is the sum of the net assessed value of all taxable property (real estate, motor vehicles and personal property). It will be used for fiscal year 2022-2023 town budget calculations.
Motor vehicles and personal property are valued annually, while real estate is updated based on the market values determined as of the town’s last revaluation date (October 1, 2020).
The 1.5% increase in real estate assessment results from “continued residential and commercial new construction, as well as renovation activity that occurred within the last assessment year.”
Construction on a new 32-unit condominium development at 41 Richmondville Road, completion of a 32-unit apartment complex at 1480 Post Road East, reconstruction of the Volvo dealership at 556 Post Road East and the building of approximately 80 new homes contributed to increases in the 2021 real estate Grand List.
Personal property increased slightly above 4 percent, suggesting a reinvestment in local new and existing businesses, Friia says.
Motor vehicles increased by 27 percent. That’s a result of increases in new and used car prices, and a 25% increase in new car purchases over 2020.
Real estate ($10,304,249,099) makes up 92.83% of the total. Motor vehicles ($464,302,240) and personal property ($331,469,325) account for the rest.
Friia also released a list of Westport’s Top 10 taxpayers. They are:
- Connecticut Light & Power Inc. ($139,809,200)
- 60 Nyala Farms Road LLC ($83,340,130)
- Bedford Square Associates LLC ($53,321,200)
- Equity One Westport Village Center ($33,126,100)
- Aquarion ($29,464,050)
- Byelas LLC ($24,856,700)
- LCB Westport LLC (@24,532,860)
- 1735 Ashley LLC ($20,312,760)
- 285 & 325 Riverside LLC ($19,470,500)
- Ronnie F. Heyman Trustee ($18,214,400),
Interesting. The value of houses and cars were both up double digits over the last year, but only one gets reassessed annually. Figure this will wash out overall for most people (car tax more expensive, offset by less increase in house taxes), but if anyone is an expert on this would be interesting to hear who it will impact the most.
Curious – what does 80 new homes mean. Were 80 additional homes built or were most of them demolition-rebuild?