West Hartford’s Real Property and Motor Vehicle lists increased by less than 1 percent, while the Personal Property list remained essentially flat.
West Hartford Town Hall. Photo credit: Ronni Newton
By Ronni Newton
The 2014 Grand List, which reflects all changes in ownership and valuation of taxable and exempt properties, showed minimal growth between 2013 and 2014.
A memo written by Director of Assessments Joseph Dakers to Town Manager Ron Van Winkle on Jan. 30, 2015, reported that West Hartford’s total Grand List for 2014 is valued at $5,947,138,136, an increase of $18,577,027 or .31 percent. The values do not take into account any Board of Assessment Appeals revisions.
The Real Estate portion of the Grand List grew by .28 percent, by $15,078,791, with growth attributable to new construction as well as increases to existing property values as a result of residential and commercial remodeling projects.
Althought the total count of vehicles registered in West Hartford increased by only 16, the Motor Vehicle list grew by $3,497,596 or .85 percent. According to Dakers, the increase in value is the result of the influx of 6,907 new vehicles as well as sustained value for those vehicles already on the list.
The Personal Property list remained virtually unchanged between 2013 and 2014, showing an increase of only $640. Dakers said in his memo that despite of a net change of 21 more businesses, “New capital purchases of FF&E were not significant enough to stem an overall assessment reduction as realized through annual depreciation that businesses are entitled to on their reportable assets.”
Blue Back Square, Westfarms Mall, and CL&P led the list of top 10 taxpayers, followed by Corbins Corner, Town Center West Associates (29 South Main St.), and Bishop’s Corner (E&A) LLC (2523 Albany Ave.). McCauley Center Incorporated, E & A Northeast Limited Partnership (333 North Main St.), Prospect Plaza Improvements LLC (245 Prospect Ave.) and 10 Westgate Apartments LLC (1248 Farmington Ave.) round out the list.
The Grand List is just one component of the town’s budget – the first step in the process of determining the mill rate for the upcoming fiscal year.
The current mill rate for the FY 2014-2015 budget adopted on April 24, 2014, is 37.37.
[…] slight Grand List growth of .31 percent will generate $718,374 new revenue, providing a small boost to partially offset the impact on […]