March 29, 2017

Essex Grand List Shows Small 0.33 Percent Increase

ESSEX — The grand list of taxable property has remained nearly flat after a revaluation-driven drop in 2013, with the October 2014 total showing an increase of only $3.72 million or 0.33 percent.

Assessor Jessica Sypher has filed an October 2014 grand list that totals $944,905,200, up by $3,726,569 from the 2013 total. There were small increases in each of the categories of real estate, personal property, and motor vehicles. The increase is expected to generate only about $60,000 in new tax revenue at the current tax rate of 20.99 mills.

The grand list, which previously had totaled over $1 billion, dropped by 7.72 percent after the full townwide property revaluation that was completed in 2013. The 2012 grand list was also down very slightly, dropping by about six one-hundredths of a percent.

Sypher said a court settlement for two of about a dozen appeals that followed the revaluation had resulted in a loss of about $700,000 in assessed value, or about $21,000 in tax revenue.

Brewer’s Marina appealed the revised assessments for marinas it owns on Ferry Street and Chandler Street. Sypher said attorneys for the town recommended a settlement that would split the difference between the revised assessments and the values claimed by the marina company. The compromise that was approved by a superior court judge last month dropped the assessed value for the two marinas from about $5 million to $4.3 million.

The town’s 3,253 real estate accounts have an assessment total of $943,246,673, up by only $727,030 from the 2013 real estate total.The town’s 722 personal property accounts have an assessment total of  $41,873,673, up by $1,213,929 from the 2013 personal property total.

The town’s 7,697 motor vehicle accounts have an assessment total of $62,881,170, up by $1,785,610 from the 2013 motor vehicles total.

Following are the town’s top 10 taxpayers with current assessment totals

1) Essex Meadows Inc. — $22,875,400
2) Lee Company — $14,820,920
3) Connecticut Light & Power Co. — $6,875,610
4) SLK Partners LLC — $5,708,900
5) River Properties Inc. — $3,597,210
6) Griswold Inn LLC — $3,378,640
7) Essex Savings Bank — $3,355,950
8) Stephen R. Cline Successor Trustee — $3,319,200
9) Herbert T. Clark III — $2,760,140
10) Macbeth Ventures LLC — $2,759,500

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