News Column

Manchester Grand List Dips

January 23, 2014

By Jesse Leavenworth, The Hartford Courant

Jan. 23 -- MANCHESTER -- Assessment reductions on some larger properties shrunk the grand list of all taxable property. The decrease was small -- 0.36 percent -- and the director of assessment and collection said Thursday that he does not expect another downturn in 2014. Assessments on real estate, motor vehicles and personal property from 2013 totalled $3,893,599,112 , about $14 million less than the year before. The dip was mostly due to a 0.62 percent decrease in real estate assessments following appeals of the 2011 revaluation, John Rainaldi , director of assessment and collection, said. Most of the larger property owners' appeals were not resolved until last year, so reductions in those assessments, including anchor stores at Buckland Hills mall and the JC Penney Distribution Center, affected the 2013 grand list. The 98 appeals sought a total assessment reduction of $109 million . The town resolved the cases for a total reduction of about $46 million , Rainaldi said. Although 15 of the cases resulted in no reductions, "you never hit a home run," he said. "You almost always have to wind up with some reduction in the value." Real estate assessments made up 84.2 percent of the grand list. Because all revaluation appeals have been resolved and because of construction projects that are either planned or underway, Rainaldi said he does not expect a decrease in the 2014 list. Motor vehicle assessments increased by 2.59 percent as owners replaced older models, Rainaldi said. There were 108 more motor vehicles on the local tax rolls in 2013. The total motor vehicle assessment, representing 8.31 percent of the grand list, was about $333 million , compared with about $324.6 million the year before. Assessments on personal property, which is machinery and other business assets, decreased by 0.69 percent, from about $284.3 million in 2012 to $282.35 million last year. The drop was expected, Rainaldi said, after a 13.77 percent increase in personal property assessments in the 2012 grand list. That dramatic boost was mostly due to Connecticut Light & Power Co.'s replacement and expansion projects. The increase drove a $28.5 million , or 0.73 percent, overall increase in the 2012 grand list, but because personal property depreciates annually, Rainaldi said he expects continuing downward pressure in those assessments for the rest of the decade. Assessments On Top Ten Taxpayers Pavilions at Buckland Hills, LLC -- $114,235,720 Connecticut Light & Power Co. -- $90,488,540 JC Penney Properties -- $61,861,300 Northland Pavilions, LLC (apartments) -- $58,138,300 Manchester Developers/Buckland Developers/ Aspen Woods & Highlands (apartments) -- $39,459,950 Manchester Tolland Development Co. (apartments) -- $26,009,800 TGM Waterford LLC (apartments) -- $22,170,210 Wal-Mart / Sam's Club -- $21,798,040 Plaza at Buckland Hills LLC -- $21,050,560 Manchester Tarragon LLC (apartments) -- $20,182,300 ___ (c)2014 The Hartford Courant (Hartford, Conn.) Visit The Hartford Courant (Hartford, Conn.) at www.courant.com Distributed by MCT Information Services


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Source: Hartford Courant (CT)


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