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Value of Taxable Property Rises in Westport

WESTPORT, Conn. – The assessed value of all real estate, motor vehicles and personal property in Westport increased by about 1 percent last year to $9.65 billion over 2010, Westport Town Assessor Paul Friia announced Thursday.

The town's Grand List for 2011 nets $9,655,275,688, Friia said, compared with $9,553,989,667 in 2010.

This list is the sum of the assessed value of all taxable property in town. Motor vehicle and personal property are valued annually. Real estate values were based on the market values, which were determined in the town's last revaluation Oct. 1, 2010.

Friia said increases in the Grand List were seen in all three categories.

"The real estate increase resulted from consecutive increases in new construction and home renovations permits over the past two years," he said in a statement.

"Personal property had a 1 percent increase in assessments as well as in the number of accounts, indicating an increase in commercial activity. The motor vehicle grand list gained 6 percent, indicating an increase in the purchasing of new vehicles."

The current Grand List totals are:

? Real estate: $9,081,585,510

? Personal property: $257,481,363

? Motor vehicle: $316,208,815

These totals are subject to change, pending the outcome of Board of Assessment Appeals hearings scheduled in March, Friia said.

The Grand List will be used in calculating the town's 2012-13 budget, which goes into effect July 1.

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