This is a printer-friendly version of an article from Zip06.com.
02/10/2016 07:30 AMA one-half percent rise in the town’s taxable property value is good news for the town’s Board of Selectmen and Board of Finance.
The 2015 Grand List of Taxable Property is up 0.55 percent to $1.167 billion over the 2014 $1.161 billion value. While not as large a Grand List increase as was logged in 2014, the increase still represents growth in the town’s tax base. Between 2013 and 2014, the town’s Grand List rose by 1.22 percent as construction projects like the new Lee Company buildings were completed and added to the tax base.
Each Jan. 31, Town Assessor Pam Fogarty is required by law to certify the sum value of town real estate, personal property, and motor vehicles as listed on the town’s Grand List of Taxable Property as of Oct. 1 of the prior year.
The value of the Grand List each year is a key input to the Board of Finance’s formula for calculating the mill rate required to pay for each year’s approved budget. Each May or June, the Board of Finance sets a new mill rate at the level needed to pay for the Town-approved budget once offsetting revenue from taxes, fees, and grants are considered.
Top Ten TaxpayersReal Estate
Coroc/Westbrook I, LLC (Tanger Outlets) $24,276,640
Lee Co. $20,480,410
Waters Edge Realty LLC $18,584,610
The Lee Co. $10,555,960
Pilots Point Marina, Inc. $9,940,480
Pilots Point Marina $3,832,620
Jensens, Inc. $3,810,210
SKS Westbrook, LLC
(Ambleside Apartments) $3,201,390
IPC Information Systems, Inc. $2,989,350
Connecticut Water Co. $2,648,770
Combined Real Estate, Personal Property
Coroc/Westbrook I LLC (Tanger Outlets) $24,276,640
Lee CO $20,480,410
Waters Edge Realty, LLC $18,584,610
Pilots Point Marina, Inc. $11,277,840
Connecticut Light & Power Co. $10,705,740
The Lee Co. $10,555,960
Connecticut Water Co. $4,196,840
The Lee Company $3,998,520
Pilots Point Marina $3,834,150
Jensens, Inc. $3,817,650