September 18, 2014

Essex Grand List Totals $1.11 Billion, Down by 0.06 Percent

ESSEX— Assessor Jessica Sypher has filed an October 2012 grand list of taxable property that total $1,119,619,296, a decrease of $660,340, or six-one hundredths of a percent, from the 2011 grand list total.

A small increase in real estate assessments was offset by decreases in both personal property and motor vehicles to produce the first drop in the grand list in several years for a year that did include a townwide property revaluation. The decrease will result in a loss of $12,200 in tax revenue at the current tax rate of 18.47 mills.

The town’s 3,245 real estate accounts have a net assessment total of $1,032,086,440, an increase of only $207,370 from the 2011 real estate total. The 739 personal property accounts have a net assessment total of $28,670,576, a decrease of $297,655 from the 2001 personal property total. The 7,606 motor vehicle accounts have a net assessment total of $58,862,280, a decrease of $570,055 from the 2011 motor vehicles total.

Sypher said the sale of the historic Samuel Lay House at 57 Main Street to the Connecticut River Museum had taken nearly $1 million off the real estate total when the property became tax exempt. The sale last fall was financed by a $900,000 loan from the U.S. Department of Agriculture.

An even larger drop in the grand list is expected this year, as the town completes its first full townwide property revaluation, including inspections of individual properties, in a decade. The 2007 revaluation, a a five-year update based on sales data, was completed before that sharp decline in property values that occurred after the start of the national recession in 2008. The Deep River grand list dropped by eight percent after a revaluation was completed in that town in 2010.

The list of the town’s top ten taxpayers was unchanged from the 2011 top ten list. The top ten taxpayers, with their current assessments, are as follows, 1) Essex Meadows Properties Inc. $24,672,600, 2) Lee company $14,064,780, 3) Connecticut Light & Power Co. $6,282,960, 4) Griswold Inn LLC $3,849,980, 5) Stephen R. Cline Successor Trustee $3,587,400, 6) Essex Savings Bank $3,449,670, 7) Herbert T. Clark III $3,002,240, 8) MacBeth Ventues LLC $2,870,000, 9) River Properties Inc. $2,790,170, 10) All Waste Inc. $2,658,270.

Charles StannardCharles Stannard is a lifelong resident of Essex and a graduate of Valley Regional High School and the University of Connecticut at Storrs.  Charlie worked for the Middletown Press from 1979 to 1995, covering Haddam and Killingworth and later Middletown city hall and schools.  From 1997 through 2010 Charlie was a reporter for the Hartford Courant and has covered Chester, Deep River, Essex and Killingworth for the past decade.  Charlie lives in the Ivoryton section of Essex.  Contact Charles at stannardcharles@yahoo.com