Westport's 2023 Grand List Finalized By Officials

Press release from the Town of Westport:

WESTPORT, CT — Westport Town Assessor Paul Friia announced today that he signed the October 1, 2023, Grand List as required by state statute.

The net 2023 Grand List of $11,468,456,765 represents an increase of approximately 1.38 percent from the net 2022 Grand List of $11,312,004,303. 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 two of the three categories to include real estate and personal property. The 1.5 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 thirty-two condominiums located at 41 Richmondville Ave and the completion of the twelve condominiums at 60 Wilton Road. In addition, the Belta Farm 9 lot subdivision, and the construction of approximately 59 new homes throughout Westport contributed to the increases in the 2023 real estate Grand List. Personal Property increased approximately 5 percent, suggesting a continued reinvestment in local new and existing businesses to include equipment and leasehold improvements. Motor Vehicles decreased a total of 5.1 percent. A decrease was expected by the Assessor with the reduction in motor vehicle values post Covid. 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 2023 Grand List totals are:

The Grand List will be used for fiscal year 2024-2025 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 following are the top 10 taxpayers in Westport:

Top 10 Taxpayer – 2023 Grand List Assessment

Connecticut Light & Power Inc Pers. Property 142,022,480

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

Bedford Square Assoc LLC Real Estate 51,520,000

Aquarion Real/Pers. Prop. 38,700,440

Equity One Westport Vill. Center Real Estate 34,383,600

Bridgewater Associates LP Pers. Property 27,272,840

Byelas LLC Real Estate 24,856,700

Bankside House Westport LLC Real Estate 24,569,000

LCB Westport LLC Real Estate 24,532,860

Southern Connecticut Gas Co Pers. Property 22,328,270

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