Westport Town Assessor Paul Friia announced today that he signed the October 1, 2022 Grand List as required by state statute.

The net 2022 Grand List of $11,312,004,303 represents an increase of approximately 1.9 percent from the net 2021 Grand List of $11,100,020,664.  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 1.4 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 continues on the 32  condominiums located at 41 Richmondville Ave and the 12 condominiums at 60 Wilton Road. In addition, improvements to buildings on Main Street and the construction of approximately 66 new homes contributed to the increases in the 2022 real estate Grand List.  Personal Property increased approximately 14 percent, suggesting a reinvestment in local new and existing businesses to include equipment and leasehold improvements.  Motor Vehicles increased a total of 4.7 percent.  Although less of an increase than the previous year, it reflects a return to a more typical market.  This year’s overall increase is an indication that Westport continues to remain a community of great interest to businesses and new residents. 

The Grand List will be used for fiscal year 2023-2024 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 above figures reflect an adjustment made to the Grand List after the signing due to an error discovered in a personal property account.