Quite A Grand List

Town Assessor Paul Friia has announced details of Westport’s 2024 Grand List.

The Grand List is the sum of the net assessed value of all taxable property – real estate, motor vehicles and personal property.

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).

Changes to next year’s Grand ist will reflect the upcoming revaluation.

The net 2024 Grand List of $11,616,471,195 is an increase of nearly 1.3% from 2023 ($11,468,456,765).

Properties like this on Beachside Avenue help boost the Grand List.

There were increases in 2 of the 3 categories.

Friia says that the 1.6 percent increase in real estate assessment is a result of continued residential and commercial new construction, as well as renovation activity.

That includesthe completion of construction on 31 condos at 41 Richmondville Avenue (“The Mill”), and the renovation of National Hall.

The Grand List was also boosted by construction of approximately 40 new homes, and ongoing commercial development.

Personal property increased by just under 2%. Friia calls this “typical continued reinvestment in local new and existing businesses to include equipment and leasehold improvements.”

The motor vehicle portion of the Grand List decreased 7.8%. This was expected, following a change in state law that requires vehicles to be valued using MSRP, and a set depreciation schedule.

Other contributors to Westport’s Grand List.

The current 2024 Grand List totals are:

Friia also announced the top 10 taxpayers in Westport: 

Connecticut Light & Power Inc          Pers. Property                         144,150,180

60 Nyala Farms Road LLC                Real Estate                                83,335,700

Bedford Square Assoc LLC               Real Estate                                51,520,000

Aquarion                                             Real/Pers. Prop.                        40,247,920

Equity One Westport Vill. Center      Real Estate                                32,970,900

Bridgewater Associates LP                Pers. Property                           26,598,410

Byelas LLC                                        Real Estate                                24,856,700

41 Richmondville LLC                       Real Estate                                23,335,270

Southern Connecticut Gas Co            Pers. Property                           23,050,730

LCB Westport LLC                            Real Estate                                22,302,600

Much of Connecticut Light & Power’s property consists of utility poles.