Westport's 2022 Grand List Grew Nearly 2%

Press release from the Town of Westport:

WESTPORT, CT — Westport Town Assessor Paul Friia announced today that he signed the October 1, 2022 Grand List as required by state statute.

The net 2022 Grand List of $11,312,004,303 represents an increase of approximately 1.9 percent from the net 2021 Grand List of $11,100,020,664. The Grand List is the sum of the net assessed value of all taxable property – real estate, motor vehicles, and personal property. Motor vehicles and personal property are valued annually, while real estate is updated based on the market values determined as of the town’s last revaluation date of October 1, 2020.

Increases in the Grand List were in all three categories to include real estate, motor vehicles and personal property. The 1.4 percent increase in real estate assessment is a result of continued residential and commercial new construction as well as renovation activity that occurred within the last assessment year. Construction continues on the 32 condominiums located at 41 Richmondville Ave and the 12 condominiums at 60 Wilton Road. In addition, improvements to buildings on Main Street and the construction of approximately 66 new homes contributed to the increases in the 2022 real estate Grand List. Personal Property increased approximately 14 percent, suggesting a reinvestment in local new and existing businesses to include equipment and leasehold improvements. Motor Vehicles increased a total of 4.7 percent. Although less of an increase than the previous year, it reflects a return to a more typical market. This year’s overall increase is an indication that Westport continues to remain a community of great interest to businesses and new residents.

The current adjusted 2022 Grand List totals are:

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The Grand List will be used for fiscal year 2023-2024 town budget calculations. The above figures are subject to change based on the outcome of the Board of Assessment Appeal hearings in March and further changes due to corrections or pending lawsuits. The above figures reflect an adjustment made to the Grand List after the signing due to an error discovered in a personal property account.

The following are the top 10 taxpayers in Westport:

Top 10 Taxpayer – 2022 Grand List Assessment

Connecticut Light & Power Inc Pers. Property $141,398,240

60 Nyala Farms Road LLC Real Estate 83,335,700

Bedford Square Assoc LLC Real Estate 51,520,000

Aquarion Real/Pers. Prop. 34,668,193

Equity One Westport Vill. Center Real Estate 32,310,568

Bridgewater Associates LP Pers. Property 25,676,660

Byelas LLC Real Estate 24,856,700

LCB Westport LLC Real/Pers. Prop. 22,302,600

1735 Ashley LLC Real Estate 20,310,660

Westport Riverside Assoc LLC Real Estate 19,470,500

Southern Connecticut Gas Co Pers. Property 19,077,130

This press release was produced by the Town of Westport. The views expressed here are the author’s own.