Westport grand list rises 1% in 2011 to $9.65 billion

The grand list of all taxable properties in Westport grew by about 1 percent last year to approximately $9.655 billion compared to a net 2010 grand list of about $9.554 billion, town Assessor Paul Friia reported Thursday.

The grand list comprises the assessed value of all taxable real estate, motor vehicles and personal properties. Motor vehicles and personal property are valued annually, while real estate is updated based on the market values determined by the town's last revaluation as of Oct. 1, 2010.

The modest growth in the grand list last year was a marked change from a year earlier, when the 2010 list plunged more than 12 percent from 2009, reflecting the sharp drop in local property values recorded by a townwide re-assessment conducted that year. Before that re-assessment, the 2009 grand list stood at $10.91 billion, or 12.4 percent higher than the 2010 tally.

New construction and home renovations permits during the last two years contributed to an increase in real estate values reflected in the 2011 list, Friia said.

Personal property assessments increased by 1 percent, reflecting growth in local commercial activity, Friia said. The motor vehicle grand list grew by 6 percent, indicating an increase in new vehicles sales, he added.

The increase in the Grand List contrasts a 12 percent decrease in the town's taxable property last year, a decline that was driven by falling real estate values recorded in the 2010 revaluation.

The list of the 10 highest taxpayers in Westport is mostly unchanged from 2010.

Connecticut Light & Power again tops the list with a total assessment of approximately $117 million. Nyala Farms Inc. was the second-highest taxpayer with an assessment of approximately $78 million, while residents Marc and Cathy Lasry had the third-highest assessment, which totaled about $23 million.

The only new entrant on the Top 10 list was 125 Main Street Associates LLC, which took the No. 8 spot with an assessment of almost $20 million. The firm owns 125 Main Street, which houses a three-floor Gap store that opened last year at the site.

The grand list will be used for town budget calculations for the 2012-2013 fiscal year. Grand List figures may change depending on the outcome of Board of Assessment Appeals hearings in March.

TOP 10 WESTPORT TAXPAYERS 2011

List shows assessed value of their holdings:

1. Connecticut Light & Power, personal property, $117,338,760

2. Nyala Farms, 60 Nyala Farms Road, $78,272,660

3. Marc and Cathy Lasry, home, $22,601,600

4. Riverside Office 285 & 355 LLC, 285 and 355 Riverside Ave., $21,990,600

5. Heyman Ronnie F. & Samuel J. Est., home, $19,994,700

6. Roseville Estates Inc., 1177 Post Road East, $19,832,540

7. Allianz Life Insurance Co., 55 Greens Farms Road, $19,075,500

8. 125 Main Street Associates LLC, 125 Main St., $17,958,400

9. Bridgewater Associates, 1 Glendinning Place, $17,950,170

10. Byelas Irving Irrevocable Trust, 1790 Post Road East, $17,112,200

2011 vs. 2010 WESTPORT GRAND LIST TOTALS

Real Estate

2011: $9,081,585,510, or 94.05 percent of total list

2010: $9,002,766,290

Personal Property

2011: $257,481,363, or 2.67 percent

2010: $253,482,382

Motor Vehicles

2011: $316,208,815, or 3.28 percent

2010: $297,740,995