New Canaan’s 2016 Grand List climbs $80.6 million
NEW CANAAN — New Canaanites have reason to feel encouraged going into budget season.
The list of total taxable property, the town’s grand list, was up to $8.3 billion in 2016, based on preliminary numbers, a total increase of $80,660,112 over 2015. That’s a potentially good sign for those with their eyes on the town’s mill rate.
“What you want to see as the leader of a town is the value of the town’s assets increasing, and that’s what we’re seeing. It tells me the town is growing, that people are willing to invest, are enjoying the town and are considering moving into town,” First Selectman Robert Mallozzi III said.
The grand list is one of several factors used to calculate the town’s mill rate. As the Grand List climbs, there is, in theory, less pressure to up the mill rate. The mill rate based on the 2015 grand list numbers was set at 16.312, which would mean $16.312 in taxes for each $1,000 of assessed value. Taxes were collected at a rate of 98 percent, according to the tax collector’s office. Mallozzi, however, suggested the relationship between the grand list and the town’s mill rate is tenuous.
“I’m not sure the grand list has much effect on the mill rate. It’s more important as a psychological factor pointing to the town’s health,” Mallozzi explained.
This year’s Grand List represents just under a 1 percent increase. The top taxpayer account is New Canaan Country Club, assessed at $28.4 million.
Any assessment appeals must be made to the Board of Assessment Appeals on or before Feb. 21. To make an appeal, visit newcanaan.info.
Top 10 Taxpayer Accounts:
1. Country Club of New Canaan, $28,490,770
2. Connecticut Light and Power, $27,967,510
3. Town Close Associates Ltd Partner, $25,316,200
4. New Canaan Lumber Co, $16,453,220
5. Kenneth G. Tropin Trustee, $15,760,850
6. JR Silverberg Realty LLC, $13,878,410
7. Financial Services Vehicle Trust, $13,298,460
8. Aquarion Water Company, $13,259,260
9. Simon Edward Trustee, $12,367,950
10. Forest Street Properties LLC, $11,997,580
Connecticut Light and Power and Aquarion Water Company were assessed at $27.9 million and $13.2 million, respectively.
Assessed motor vehicle value was up $6.4 million. Personal property value was up $325,060, and real estate value was up $73.8 million.
The town’s growth is especially important, Mallozzi said, because of the ongoing financial woes in Hartford.
“That’s significant because when you have a state in the financial trouble that Connecticut is, the fact that people have so much more confidence in towns like New Canaan and want to invest and raise families really says a lot,” Mallozzi said. “We’re doing this alone. We don’t have a healthy state helping us attract people.”