The town didn’t see a large jump in assessable real estate, property values or motor vehicles in 2012, but as the nation and state continue to struggle with a tough economy, Cheshire was able to find positive returns in its annual grand list.
Cheshire Town Manager Michael A. Milone announced Thursday that the town’s grand list for 2012 sits at $2.88 billion, a change that represents $18 million in new assessable property. The overall increase, 0.64 percent, would generate $494,000 in new taxes at the current mill rate, according to Milone.
“At the current mill rate of 27.23 and the current collection rate of 99.0%, this will generate an additional $494,203 in revenue,” Cheshire Town Assessor Mario Panagrosso said.
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It’s wasn't the $23 Million increase seen in 2012, but remained a positive net return for the town, which continues to ride the wave of recovery and sits in good financial position once again.
Real estate grew by 0.41 percent, with the town adding a total of $10.35 million, while motor vehicle values actually decreased by $2.57 million. The motor vehicle decrease had a net negative impact of 1.16 percent over the previous year, officials said.
But the big surprise for the community was the considerable increase seen in personal property. Despite the economic conditions, businesses and individuals added over $10.54 million in new personal property to the assessment lists – a total increase of 9.67 percent over the previous year.
Property owners wishing to appeal their 2012 Grand List real estate, business personal property assessment, or their 2011 supplemental motor vehicle assessment before the Board of Assessment Appeals must submit a written application to the Board on or before February 20, 2013. These forms are currently available on www.cheshirect.org and from the Assessor’s Office in the Town Hall at 84 S Main St.
By state statute, an appeal can be heard only if the written request has been submitted on the prescribed form to the Cheshire Board of Assessment Appeals by February 20, 2013.
For more information on the assessment appeals process, contact the Cheshire Assessor’s Office at (203) 271-6620.
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