Collectible grand list drops in New Milford

There is not much good news in New Milford's latest grand list numbers.

And that's bad news for the town budget as revenue is derived, in part, on the value of taxable property in town.

The new grand list, released recently by Tax Assessor Kathy Conway, is based on the assessed value of all taxable property as of Oct. 1, 2008.

The gross grand list is $3.1 billion, up $39.4 million, or 1.28 percent, over the 2007 list.

But the problem is the net collectible grand list, after tax exemptions and abatements are deducted, is down by $3.9 million or 0.13 percent.

Abatements and exemptions total $105.4 million, an increase of 58 percent.

They include reductions for veterans, the elderly, the blind, emergency volunteers, for manufacturing equipment, and $11.65 million for MedInstill -- "a huge part of that abatement," said Ms. Conway.

That brings the new collectible grand list to $2.99 billion, down $3.89 million from 2007, or 0.13 percent.

This is the second consecutive year that the town's net collectible list has decreased.

In 2006 the grand list was up less than 1 percent.

New grand list numbers at a glance:

äGross real estate: $2.74 billion, up from $2.72 billion in 2007.

äGross motor vehicle: $190 million, down from $203.5 million.

äGross personal property: $166.4 million, up from $134.6 million.

äGross grand list: $3.098 billion, up from $3.059 billion, or 1.28 percent, from 2007.

äTotal abatements and exemptions: $105.4 million, up from $62.2 million, or 58 percent.

äThe net collectible grand list is $2.99 billion, down $3.89 million from 2007, or 0.13 percent.

Top taxpayers

The top dozen taxpayers in New Milford account for $200.3 million of the October 2008 grand list assessment, up from $174.6 million in 2007:

1. Kimberly-Clark is New Milford's top taxpayer, with real estate and personal property assessed at $85.2 million. In 2007, the K-C assessment was $59.7 million.

2. CL&P, $36.7 million

3. GRE New Milford LLC (the Stop & Shop/Wal-Mart plaza), $13.46 million

4. Home Depot, $12.58 million

5. FirstLight Hydro, $9.18 million

6. Housatonic Real Estate II (MedInstill), $7.8 million

7. O&G Industries, $7.7 million

8. United Water, $6.66 million

9. Fairfield Plaza, $6.1 million

10. UB New Milford (Veterans Plaza), $5.5 million

11. Danbury Road Developers, $5.25 million

12. Candlewood Valley Health & Rehab Center, $4.27 million.