Westport's Grand List Grew By 1.29 Percent In 2024: Town Assessor

WESTPORT, CT — Westport's net Grand List grew 1.29 percent to $11,616,471,195 in 2024, up from $11,468,456,765 the previous year, Town Assessor Paul Friia announced Wednesday.

The Grand List is the sum of the net assessed value of all taxable property — real estate, motor vehicles, and personal property. According to Friia, 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.

Changes to next year’s 2025 Grand List will reflect the revaluation, Friia added.

The top three on the list of the town's highest taxpayers are Connecticut Light & Power Inc. (personal property assessed at $144,150,180); 60 Nyala Farms Road LLC, where Bridgewater Associates is located ($83,335,700); and Bedford Square Assoc. LLC (real estate $51,520,000).

From Friia's announcement:

Increases in the Grand List were in two of the three categories to include real estate and personal property.

• The 1.6 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, including the completion of construction on the thirty-one condominiums located at 41 Richmondville Ave and the renovation of the office building at 2 Post Road West. In addition, the construction of approximately 40 new homes throughout Westport as well as ongoing commercial development contributed to the increases in the 2024 real estate Grand List.
• Personal Property increased by just under 2 percent, suggesting a more typical continued reinvestment in local new and existing businesses to include equipment and leasehold improvements.
• Motor Vehicles decreased a total of 7.8 percent. A decrease was expected by the Assessor since the change in Connecticut law now requires that motor vehicles be valued by using MSRP and a set depreciation schedule.

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 2024 Grand List totals are:

— Table from the Town of Westport

The Grand List will be used for fiscal year 2025-2026 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 – 2024 Grand List Assessment

Connecticut Light & Power Inc Pers. Property 144,150,180

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

Bedford Square Assoc. LLC Real Estate 51,520,000

Aquarion Real/Pers. Prop. 40,247,920

Equity One Westport Vill. Center Real Estate 32,970,900

Bridgewater Associates LP Pers. Property 26,598,410

Byelas LLC Real Estate 24,856,700

41 Richmondville LLC Real Estate 23,335,270

Southern Connecticut Gas Co Pers. Property 23,050,730

LCB Westport LLC Real Estate 22,302,600