East Haven's Grand List Grows by Almost $20 Million

(Editor’s note: We published this story earlier in the week, but here it is in case you missed it)

East Haven’s grand list has increased from $1.975 billion to $1.995 billion or a $19.8 million increase, officials said.

Specifically, real estate increased by $13.77 million from $1.76 billion to $1.77 billion, motor vehicle increased by $2.74 million from $161.72 million to $164.46 million, and personal property also increased by $3.32 million from $52.45 million to $54.74 million.

The overall grand list growth was 1 percent.

East Haven Mayor Joseph Maturo Jr. said during his budget address in 2014 he “indicated that growing the grand list was a priority for the upcoming year.”

“As I’ve explained before, bringing new businesses into town increases the list of taxable property in town, reducing the tax burden on residents. In the last year, we have grown our grand list by almost $20 million dollars. To put this in perspective, $20 million dollars represents approximately $631,000 dollars in new tax revenue for the town. As you can see, stimulating grand list growth, in the form of new businesses, greatly improves the town’s tax position each year,” Maturo said.