News Column

Simsbury Sees Bump In Grand List

February 17, 2014

By Nicholas Rondinone, The Hartford Courant



Feb. 17--SIMSBURY -- The town's grand list of taxable properties saw a small bump in 2013 and officials are crediting real estate projects and public utility property for the growth.

The grand list grew by $13.4 million, or just under 0.6 percent, over 2012 to reach a total of $2.25 billion in 2013.

"There's a number of ... economic development projects that have finally come online," First Selectwoman Mary Glassman said. "There are additional projects in our pipeline that will have an effect on the grand list" in the future.

The majority of the growth came from real estate, which grew by about $5.44 million or 0.275 percent, and personal property, which grew by about $5.47 million or 6.9 percent, over the previous year, according to records.

David M. Gardner, the town's assessor, said in a memo to the first selectman that this was the first time in several years that personal property grew and said that was because of property from the public utility companies.

Adding to the real estate on the grand list, the largest portion of taxable assets, was new apartment complexes opening up including Mill Commons apartments and King's Ridge apartments, according to Gardner.

Glassman said the Big Y Supermarket, East Pointe apartments and other projects will be completed and help future grand lists.

The majority of Simsbury's real estate, according to the grand list, is residential real estate.

The increase in the grand list came after the grand list in 2012, which fell more than 13 percent from the previous year. The decline, officials said, was because of a revaluation of taxable properties in town that took place that year.

The Hartford Financial Services Group remains the town's single largest tax payer with more than $43 million in taxable assets. The company last year announced it would put its campus on Hopmeadow Street for sale and move its employees out, drawing concerns about the effect on the tax base.

Officials have said the concern with The Hartford would be a decline in personal property taxes paid as employees are transferred out of the office.

The assessments on the grand list could change because of appeals or corrections before May 1, according to Gardener.

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Source: Hartford Courant (CT)


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