Litchfield has a new grand list of taxable property showing a small increase in property values as of Oct. 1, 2018.
The new grand list of $1,051,515,754 is just .38 percent, or $3,697,870, higher than the current grand list due to a decrease in the values of residential property and open land.
The Board of Selectmen received the new grand list on Tuesday as well as an explanation for its stagnation from Tax Assessor Kathy A. Brown. The explanation was simple: Litchfield isn’t showing much commercial or residential growth that would provide a beneficial spike in the grand list and alleviate the burden on taxpayers.
The new grand list will take effect on July 1, the first day of the fiscal year of 2019-20.
Real estate values under the new grand list are $930,615,000, an increase of $4,151,620. Residential property values declined by $9,986,790, or 1.26 percent, while open land values dropped by $5,505,530, or 18.44 percent, on the heels of a revaluation last year.
Commercial, industrial, public utility and lower-taxed agricultural land have increased in value by a combined $10.8 million, but not enough to offset the drop in residential and open land values.
Motor vehicle values are $77,205,420, an increase of $763,710, and personal property values are $43,695,284, an increase of $7,085,780.
The top 10 assessments are:
- Connecticut Light & Power, $21,778,040
- Brandywine Living at Litchfield, $6,951,130
- City of Waterbury, $6,761,900
- 645 Federal Square Realty, $4,700,040
- White Memorial Foundation, $3,553,030
- Aquarion Water Co., $3,214,170
- CA Litchfield LLC, $3,139,350
- Union Savings Bank, $2,612,100
- Stillman House LLC, $2,607,250
- 130 Chestnut Hill LLC, $2,594,940
Back to News