Westport’s revalued ’15 grand list grows nearly 8%
Updated 4:34 pm, Monday, February 15, 2016
The town’s 2015 grand list of all taxable properties, reflecting continued strength in the local real estate market after last year’s property revaluation, recorded nearly 8 percent growth over the preceding year, according to newly released figures.
The grand list total for 2015 stands at $10,876,602,613, according to Assessor Paul Friia, a 7.8 increase over the 2014 total of 10,092,436,351. The grand list is based on assessments set for real estate, motor vehicles and personal property by the first revaluation process since 2010.
Last year’s grand list had increased about 1.5 percent from the overall tax values reported in 2013.
The top three taxpayers in town, ranked according to their combined property holdings, remained the same in 2015 as in 2014. They are, respectively, Connecticut Light & Power (now known as Eversource), the Nyala Farms office complex and Equity One Westport Village Center.
Both residential and commercial properties - together comprising 94.4 of the overall tax list - charted increases. Residential values rose approximately 7.5 percent, while commercial values grew about 10 percent - a combined average of 8.3 percent.
WESTPORT”S TOP TAXPAYERS
Following are the town’s top-10 taxpayers based on their combined assessments on the 2015 grand list:
Connecticut Light & Power, $135,413,783
60 Nyala Farms Road LLC, $89,277,600
Equity One Westport Village Center, $35,051,200
Bylas LLC, $24,424,500
Campana 125 LLC, $20,767,800
285 & 355 Riverside LLC, $20,177,600
SL Greens Farms Road LLC, $19,937,500
Ronnie F. Heyman, trustee, $19,508,800
Bridgewater Associates, $19,126,450
Marc and Cathy Lasry, $17,470,300
For WESTPORT NEWS reports on previous year’s grand lists visit:
That 8.3 percent growth, in addition to higher assessments set by revaluation, also reflects about 1 percent in permits for new construction over the past year. There was no significant proportional shift between the residential and commercial shares of the real estate market, according to the new data.
The motor vehicle list had a 1 percent decline, according to Friia’s statement, although that figure is based on information from state Department of Motor Vehicles that “has been negatively affected due to the problems regarding their new computer system. The $321,487,169 value of vehicles is 2.96 percent of the overall grand list.
Personal property, generally business equipment, declined 2 percent in the new list with valuation set at $287,006,004, comprising 2.64 percent of the new list.
The figures announced by Friia are subject to change, pending outcome of Board of Assessment Appeals hearings in March, as well as possible corrections to the motor vehicle grand list.