Town Of Westport: 2021 Grand List Signed

Westport CT

08 February, 2022

1:49 PM

Description

Press release from the Town of Westport: 02/07/2022 4:00 PM Town Assessor Paul Friia announced today that he signed the October 1, 2021 Grand List as required by state statute. The net 2021 Grand List of $11,100,020,664 represents an increase of approximately 2.4 percent from the net 2020 Grand List of $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.  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 of October 1, 2020. Increases in the Grand List were in all three categories to include real estate, motor vehicles and personal property. The 1.5 percent increase in real estate assessment is a result of 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 located at 41 Richmondville Road, the completion of a 32 unit apartment complex at 1480 Post Road East, the reconstruction of the Volvo Dealership at 556 Post Road East and the building of approximately 80 new homes contributed to the increases in the 2021 real estate Grand List.  Personal Property increased slightly above 4 percent, suggesting a reinvestment in local new and existing businesses. Motor Vehicles increased a total of 27 percent.  This significant change is a result of the increases in new and used car prices and a 25% increase in new car purchases over 2020. This year's overall increase is an indication that Westport continues to remain a community of great interest to businesses and new residents.  The current 2021 Grand List totals are:     Can't see the table below? Click here to view the original story.               The Grand List will be used for fiscal year 2022-2023 town budget calculations. The above figures are subject to change based on the outcome of the Board of Assessment Appeal hearings in March and further changes due to corrections or pending lawsuits. The following are the top 10 taxpayers in Westport: Top 10 Taxpayer – 2021 Grand List                                               Assessment Connecticut Light & Power Inc          Pers. Property                         139,809,200 60 Nyala Farms Road LLC                Real Estate                                83,340,130 Bedford Square Assoc LLC               Real Estate                                53,321,200 Equity One Westport Vill. Center      Real Estate                                33,126,100 Aquarion                                             Real/Pers. Prop.                        29,464,050 Byelas LLC                                        Real Estate                                24,856,700 LCB Westport LLC                            Real/Pers. Prop.                        24,532,860    1735 Ashley LLC                               Real Estate                                20,312,760 285 & 325 Riverside LLC                  Real Estate                                19,470,500 Ronnie F Heyman Trustee                 Real Estate                                18,214,400    This press release was produced by the Town of Westport. The views expressed here are the author's own.