Assessor’s Office: 2021 Grand List Up 2.4%
Westport Tax Assessor Paul Friia:
Town Assessor Paul Friia announced today that he signed the October 1, 2021 Grand List as required by state statute.
The net 2021 Grand List of $11,100,020,664 represents an increase of approximately 2.4 percent from the net 2020 Grand List of $10,830,370,714. The Grand List is the sum of the net assessed value of all taxable property – real estate, motor vehicles, and personal property. Motor vehicles and personal property are valued annually, while real estate is updated based on the market values determined as of the town’s last revaluation date of October 1, 2020.
Increases in the Grand List were in all three categories to include real estate, motor vehicles and personal property.
The 1.5 percent increase in real estate assessment is a result of continued residential and commercial new construction as well as renovation activity that occurred within the last assessment year. Construction on a new 32 unit condominium development located at 41 Richmondville Road, the completion of a 32 unit apartment complex at 1480 Post Road East, the reconstruction of the Volvo Dealership at 556 Post Road East and the building of approximately 80 new homes contributed to the increases in the 2021 real estate Grand List.
Personal Property increased slightly above 4 percent, suggesting a reinvestment in local new and existing businesses.
Motor Vehicles increased a total of 27 percent. This significant change is a result of the increases in new and used car prices and a 25% increase in new car purchases over 2020.
This year’s overall increase is an indication that Westport continues to remain a community of great interest to businesses and new residents.
The current 2021 Grand List totals are:
Real Estate: 10,304,249,099 (92.83% of list)
Motor Vehicle: $464,302,240 (4.18% of list)
Personal Property: $31,469,325 (2.99% of list)
TOTAL: $11,100,020,664 (100%)
The Grand List will be used for fiscal year 2022-2023 town budget calculations. The above figures are subject to change based on the outcome of the Board of Assessment Appeal hearings in March and further changes due to corrections or pending lawsuits.
The following are the top 10 taxpayers in Westport:
Top 10 Taxpayer – 2021 Grand List Assessment
Connecticut Light & Power Inc - Pers. Property - $139,809,200
60 Nyala Farms Road LLC - Real Estate - $83,340,130
Bedford Square Assoc LLC - Real Estate - $53,321,200
Equity One Westport Vill. Center - Real Estate - $33,126,100
Aquarion - Real/Pers. Prop. - $29,464,050
Byelas LLC - Real Estate - $24,856,700
LCB Westport LLC - Real/Pers. Prop. - $24,532,860
1735 Ashley LLC - Real Estate - $20,312,760
285 & 325 Riverside LLC - Real Estate - $19,470,500
Ronnie F Heyman Trustee - Real Estate - $18,214,400