September 24, 2017

Revaluation Leads to $9 Million Decrease in Deep River Grand List

DEEP RIVER — A townwide property revaluation update completed last year has resulted in a 1.81 percent decrease in the grand list of taxable property.  Assessor Robin O’Loughlin has filed an October 2015 grand list that totals $490,476,253, a decrease of $9,076,156, or 1.81 percent, from the 2014 grand list total.  Small increases in assessment totals for motor vehicles and personal property were offset by an $11.96 million decrease in the real estate assessment total.

The revaluation update, required every five years under state law, was completed last year by O’Loughlin with assistance from Vision Appraisal of Northboro, Mass.  The town had used Vision Appraisal for the full property revaluation, including visual inspections of properties, that was done in 2010.

O’Loughlin said the decrease was less than expected, and smaller than the drop that had occurred with the 2010 revaluation.  The $9 million decrease would represent a loss of about $238,500 in tax revenue at the current property  tax rate of 26.28 mills, or $26.28 in tax for each $1,000 of assessed property value.  The real estate assessment total was $430,864,720, a decrease of $11,960,340, or about 2.6 percent, from the 2014 real estate total.

The assessment total for motor vehicles was $35,876,260, representing an increase of $1,732,036. The personal property assessment total was $423,735,273, representing an increase of $1,152,148.

First Selectman Richard Smith said assessments for commercial and industrial properties in Deep River increased, despite the drop in assessed values for residential properties.  “We knew it was going to come,” Smith said of the grand list decrease, adding that effect on tax bills would vary between properties.  O’Loughlin said the revaluation was a “smooth process” that has generated few objections from property owners.  “It’s a market adjustment over five years,” she said.

The list of the town’s top ten taxpayers was largely unchanged from recent years.  Following are the top ten taxpayers with assessment totals.  The Boyd-Dernocoeur and Matalaniec accounts are for high value residential properties.

  • Connecticut Light & Power Co. — $5,649,517
  • BDRM Inc. — $4,197,840
  • Mislick Family Limited Partnership — $3,300,150
  • Silgan Plastics Corp. — $3,079,637
  • Deep River Associates LLC — $2,695,770
  • Connecticut Water co. — $2,587,473
  • 180 Main St. Partners LLC — $2,314,620
  • Thomas Boyd & K. Dernocoeur — $2,269,930
  • Goodspeed Lasng Co. LLC — $2,218,790
  • Zbigniew Matulaniec — $2,159,290
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