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Cheshire Grand List Grows by $23 Million

Increase in value of personal property and motor vehicles fuels growth.

Cheshire's 2011 Grand List grew by 0.84 percent, an increase of $23.8 million, according to Town Assessor Mario Panagrosso. The net Grand List totals $2,864,098,340, with personal property and motor vehicle values both increasing by more than 6 percent. 

This year's increase is notable, Panagrosso said, in that it's nearly double the growth of the 2010 list which was just $14 million. The sluggish real estate market however, was reflected in a barely increased value of $3,582,377 or just 0.14 percent.

The 2011 Grand List increase is expected to provide an additional $643,168 in tax revenue, Panagrosso noted. He said one of the largest increases in personal property tax came from the Yankee Gas pipeline that was installed through town from Wallingford to Waterbury. That project provided about $5.5 million of the total increase of $6.5 million Panagrosso said.

The value of used motor vehicles increased statewide, according to the assessor's office, based on figures provided by the NADA (National Automobile Dealers Association) Guide.

Here is the breakdown of taxable vaules:

OCT 1, 2010  
OCT 1, 2011
CHANGE INCREASE REAL ESTATE $2,530,644,169 $2,534,226,546 $3,582,377
0.14% PERSONAL PROPERTY $102,554,450 $109,099,749
$6,545,299
6.38%

MOTOR VEHICLES 

 

TOTALS

$207,042,223

 

$2,840,240,842

$220,772,045

 

$2,864,098,340

$13,729,822

 

$23,857,498

6.63%

 

0.84%

The highest taxpayers in Cheshire are unchanged from last year, according to the assessor's office. They are:

 Top Ten Taxpayers
2011 Taxable Valuation
 Percent of Grand Li

1. INDUSTRIAL AVE LLC (Bozzutto's)

 

$38,587,680 1.35%

 

1.35%

 

2. CONNECTICUT LIGHT & POWER
$36,230,082 1.28%

3. CT INDY CH LLC

(Old "Bob's Building" - W. Johnson Ave.)

$18,725,000 0.66% 4. CHESHIRE BIOTECH ACQUISITION LLC (Alexion)
$18,417,697 0.65% 5. MACY'S CORP SERVICES INC $15,951,076 0.56% 6. BOZZUTOS INC $11,942,402 0.42% 7. UNITED TECHNOLOGIES CORP           
 $9,559,472            
 0.34%              
8. MARSHALL ENTERPRISES LIMITED $8,580,942 0.30%

9. CHESHIRE ILMR LLC

(Cheshire Shopping Center - S. Main St.

$8,148,340 0.29%

10. MONTOWESE INDUSTRIAL PARK INC

(Stop & Shop)

$6,610,900 0.23% TOTAL $172,753,591 6.08%

Property owners who want to appeal their 2011 Grand List real estate, business
personal property assessment, or their 2010 supplemental motor vehicle assessment before the Board of Assessment Appeals must submit a written application to the Board on, or before, Feb. 20. Forms are available online or from the Assessor’s Office in Town Hall at 84 S Main St. 

Marty February 01, 2012 at 06:48 PM
Good to see some positive economic news for a change!

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