Grand List Shows Slight Growth in 2011

The grand list of taxable property in town rose slightly in 2011, according to information released by the town assessor Wednesday. 

The value of all real estate, personal property and motor vehicles grew .55 percent in 2011, or by about $20 million. The change continues at about the same rate of growth as in 2010, when the grand list increased .6 percent.

Farmington’s net assessment equals $3,747,795,903, with increases of $9 million in real estate and almost $16 million in motor vehicles over 2010.

“This growth is basically what the town forecasted for growth last year and is similar to last year’s growth,” said Town Council Chairman Jeffrey Hogan. “We are pleased with the growth in real estate and particularly in the sizeable growth in motor vehicle.  In light of the tepid economic conditions statewide, Farmington continues to grow.  From a budgetary point of view, we must continue to be cautious and to hold the line on spending and increases in general.”

The council begins work on the 2012-2013 budget in the next few weeks. In the process, Hogan said the council must hold the line on spending and increases, bearing in mind the revaluation looming in 2012.  

“We are concerned about the pending revaluation process and the very real reality that we’ll see a substantial change in the allocation of tax burden between residential and commercial properties once the revaluation is implemented,” Hogan said, noting that the town is working with legislators on legislation that would allow the town to defer implementation of the revaluation results for one year.

“We’re hopeful that this will happen.  In the meantime, we are working diligently to grow the grand list more via economic development,” he said.

Staff in the assessor’s office have not yet calculated the top 10 taxpayers, but said there would likely be no change in the top nine spots.

The 2010 list:

• West Farms Associates, $101,947,360
• United Technologies, $45,705,980
• Dunn-Sager Affiliates, $34,637,190
• Trumpf Inc., $33,898,230
• Connecticut Light & Power, $31,682,980
• Delfino, William & Thomas, $28,487,040
• Fusco, $22,680,190
• NSHE Columbia Hartford LLC, $20,307,670
• The Price Rite Inc. retail shopping center, $20,195,000 
• The Gables of Farmington, $18,483,960