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Westport Grand List Grows 1.5%, Tops $10 Billion

Equity One, which owns the Village Center on Post Road East, is one of the biggest taxpayers in Westport's 2014 Grand List.
Equity One, which owns the Village Center on Post Road East, is one of the biggest taxpayers in Westport's 2014 Grand List. Photo Credit: Casey Donahue

WESTPORT, Conn. -- Westport's Grand List of all taxable property for 2014 grew 1.5 percent to $10,092,436,351, according to town officials.

The Grand List is a sum of the net assessed value of all taxable property in the town, including real estate, motor vehicles and personal property. It is based on valuations as of Oct. 1, 2014, and was signed by Town Assessor Paul Friia on Friday, Jan. 30. The 2013 Grand List totaled $9,940,413,732.

"The continued growth of over $150 million in Grand List is indeed good news for Westport," said First Selectman Jim Marpe. "In particular, the growth in the real estate asset class, which makes up approximately 94 percent of the Grand List, shows the continued resiliency and strength of our housing and commercial real estate market."

The top 10 taxpayers in Westport for 2014 were:

  1. Connecticut Light & Power (personal property): $133,724,300.
  2. 60 Nyala Farms Road LLC (real estate): $78,206,200.
  3. Equity One Westport Village Center (real estate): $25,864,600.
  4. Bridgewater Associates (personal property): $22,053,470.
  5. Heyman Ronnie F. Trustee (real estate): $19,700,250.
  6. SL Greens Farms Rd LLC (real estate): $19,687,700.
  7. Riverside Office 285 & 355 LLC (real estate): $19,470,700.
  8. Bedford Square Assoc. (real estate): $19,050,320.
  9. Marc & Cathy Lasry (real estate): $18,810,900.
  10. Campana 125 LLC (real estate): $17,958,400.

Real estate makes up 93.9 percent of the Grand List at $9,475,416,902. The 1.6 percent increase in real estate assessment totals is due to increased residential and commercial construction and renovation activity in the past year.

"Westport continues to be a desirable community where people are making substantial investments in new homes and renovating existing homes as well as businesses," Marpe said. "An increased Grand List improves the overall fiscal situation of the town. It sends a signal that Westport is a good location to invest in either a home or business."

Motor vehicles make up 3.2 percent of the Grand List and increased 1.3 percent in 2014 to $323,594,003. Personal property makes up 2.9 percent of the Grand List, and decreased 1.1 percent in 2014 to $293,425,446. The reason for the decrease is that some of the larger accounts that increased in 2012 and 2013 did not add as many assets this past year.

The Grand List is used for 2014-15 town budget calculations. The figures provided by the town are subject to change pending the outcomes of Board of Assessment Appeals hearings in March.

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