WESTPORT, Conn. -- The Westport grand list grew by 1.36 percent, according to a report Town Assessor Paul Friia.
Westport's net 2016 Grand List is $11,024,518,484, up from $10,876,602,613 for the 2015 Grand List. The 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 revaluation date of Oct.1, 2015.
Increases in the Grand List were in all three categories to include real estate, motor vehicles and personal property. The 1.29 percent increase in real estate assessment totals is a result of continued residential and commercial new construction and renovation activity that occurred within the past assessment year.
Motor vehicle had a 3 percent increase in assessment totals and personal property had a 2.2 percent increase in assessment totals. A review of the Personal Property Grand List indicated that public utility company accounts added just over $2,900,000 in assessment and new personal property accounts added approximately $9,000,000 in assessment. These increases along with increases in other accounts more than offset any reductions from annual depreciation or business closings.
“This is very good news for Westport taxpayers and reflects the ongoing vibrancy and attractiveness of our community.'' First Selectman Jim Marpe said. "It also reinforces the need to invest in our public amenities such as the public schools, Compo Beach, Longshore Club Park, the Library, open space and the many other 'crown jewels' that make Westport the community of choice for our current and future residents and businesses.
The Grand List will be used for fiscal year 2017-2018 town budget calculations.
The top 10 taxpayers in Westport are:
- Connecticut Light & Power Inc Pers. Property 136,098,970
- 60 Nyala Farms Road LLC Real Estate 89,277,600
- Equity One Westport Vill. Center Real Estate 35,051,200
- Bedford Square Assoc LLC Real Estate 26,964,700
- Byelas LLC Real Estate 24,424,500
- Campana 125 LLC Real Estate 20,767,800
- 285 & 325 Riverside LLC Real Estate 20,177,600
- SL Greens Farms Rd LLC Real Estate 19,937,500
- Heyman Ronnie F Trustee Real Estate 19,508,800
- Bridgewater Associates Inc. Pers. Property 17,712,920