Tag Archives: Westport Grand List

Westport’s Grand List Lives Up To Its Name

Posted on February 7, 2023 | Comments Off on Westport’s Grand List Lives Up To Its Name

The Grant List is official.

According to town assessor Paul Friia, the net 2022 Grand List of $11,312,004,303 represents an increase of approximately 1.9 percent from the 2021 valuation.

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. Real estate is updated based on the market values determined as of the town’s last revaluation date (October 1, 2020).

Homes like this one near Compo Beach — which sold for $11.4 million — keep Westport’s Grand List high.

All 3 categories showed increases.

The 1.4 percent increase in real estate assessment results from continued residential and commercial new construction, plus renovation activity.

Construction continues on 32 condominiums at 41 Richmondville Avenue, and 12 at 60 Wilton Road.

In addition, improvements to buildings on Main Street and the construction of approximately 66 new homes contributed to the increases in the 2022 real estate Grand List.

Personal Property increased approximately 14 percent, suggesting a reinvestment in local new and existing businesses to include equipment and leasehold improvements.

Motor Vehicles increased a total of 4.7 percent. Although less of an increase than the previous year, Friia says it reflects a return to a more typical market.

The current adjusted 2022 Grand List totals are:

Assessment 2022 % of List
Real Estate 10,447,786,476 92.36
Motor Vehicle 486,524,740 4.30
Personal Property 377,693,087 3.34
TOTAL 11,312,004,303 100%

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Friia also announced the Top 10 taxpayers in Westport:

 Connecticut Light & Power Inc          Pers. Property                         141,398,240

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

Bedford Square Assoc LLC               Real Estate                                51,520,000

Aquarion                                             Real/Pers. Prop.                        34,668,193

Equity One Westport Vill. Center      Real Estate                                32,310,568

Bridgewater Associates LP                Pers. Property                           25,676,660

Byelas LLC                                        Real Estate                                24,856,700

LCB Westport LLC                            Real/Pers. Prop.                        22,302,600

1735 Ashley LLC                               Real Estate                                20,310,660

Westport Riverside Assoc LLC          Real Estate                                19,470,500

Southern Connecticut Gas Co            Pers. Property                           19,077,130

The Nyala Farms office complex — which includes Bridgewater, the world’s largest hedge fund — is Westport’s 2nd highest taxpayer.

 

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A Grand Grand List

Posted on February 8, 2022 | 2 comments

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.

The conversion of The Mill at 41 Richmondville Avenue into condominiums has boosted Westport’s 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),

The Nyala Farms office complex is Westport’s 2nd highest taxpayer.

 

 

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Grand List: Grand Facts

Posted on February 4, 2021 | 1 comment

Town assessor Paul Friia has released some facts about the Grand List. That’s the sum of the net assessed value of all taxable property – real estate, motor vehicles, and personal property.

The net 2020 Grand List of $10,830,370,714 represents a decrease of approximately 5.4 percent from the net 2019 Grand List of $11,445,273,580. The primary reason is the revaluation of October 1, 2020.

Despite the overall real estate grand list decline from the 2015 assessments, the actual change without the revaluation influence was an increase of just under 1.0 percent.

This is a result of continued new residential and commercial construction, plus renovation activity within the last assessment year.

The new Residence at Westport is a new addition to Westport’s Grand List.

For example, work was completed on The Residence assisted living facility at 1141 Post Road East, and the Mercury gas station at 1830 Post Road East. Work continues on the Daybreak condominium development, and residential units at 41 Richmondville Avenue.

While real estate is updated based on the market values determined every 5 years, motor vehicles and personal property is valued annually.

The increase in the motor vehicle Grand List was approximately 3.9%. The personal property Grand List remained largely unchanged from last year, due to both the closure of businesses and a slowdown of new business openings during the pandemic.

The current 2020 Grand List totals are:

Assessment 2020 % of List
Real Estate $10,148,497,205 93.70
Motor Vehicle 364,441,700 3.37
Personal Property 317,431,809 2.93
TOTAL 10,830,370,714 100%

New Maseratis help raise the Grand List.

The Grand List will be used for fiscal year 2021-2022 town budget calculations. The figures above are subject to change based on Board of Assessment appeal hearings in March, and further changes due to corrections or pending lawsuits.

Friia also announced the the top 10 taxpayers in Westport, with their 2020 Grand List assessments:

Connecticut Light & Power Inc          Pers. Property                         $140,509,070

60 Nyala Farms Road LLC                Real Estate                                83,338,970

Bedford Square Assoc LLC               Real Estate                                53,321,200

Equity One Westport Vill. Center      Real Estate                                33,126,100

Byelas LLC                                        Real Estate                                24,856,700

Aquarion                                             Real/Pers. Prop.                        24,148,760

LCB Westport LLC                            Real/Pers. Prop.                        22,302,600

1735 Ashley LLC                               Real Estate                                20,310,860

285 & 325 Riverside LLC                  Real Estate                                19,470,500

Ronnie F Heyman Trustee                 Real Estate                                18,214,400

The Nyala Farms office complex: Westport’s 2nd highest taxpayer.

 

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