Shelton grand list up, but less than years past

SHELTON -- The city's grand list continued to grow last year, though at a rate that was half of what it has in the past.

The 2008 list increased by $108 million, and by $109 million the year before that. But the 2009 list increased by only half those numbers -- $53 million, the lowest amount in years.

"Overall it is positive news that the grand list continues to grow during this difficult economic time," Mayor Mark A. Lauretti said.

Despite the economic woes that have persisted for almost two years, the city continues to grow, Lauretti said. "I've always said that Shelton is the last in and first out" in times of recession, he said.

And the recession didn't break the 18-year streak of constant grand list growth, he said.

If the mill rate were to remain at the current 18.61, the new list would generate almost a million dollars in additional tax revenue, Lauretti said. The Board of Aldermen sets the mill rate each May after approving a city and school budget for the next fiscal year.

The grand list now tops $5.1 billion in commercial, industrial, residential and business personal property and motor vehicles, Lauretti said. Real estate increased by $32 million, personal property by $14 million and motor vehicles by $6 million, according the new figures.

While the motor vehicle increase is relatively small, it is more than the year before, Lauretti said, when there was a decrease.

Those paying the most tax are mostly the same as last year, led by developer Robert Scinto, whose properties are valued at $245 million, which is $2 million more than his 2008 assessment.