City’s grand list grows 1.36%
SHELTON — The city’s 2018 grand list increased 1.36 percent over the past year — giving local leaders some positive economic news entering the latest budget season.
The net grand list sits at $4,736,369,384 in total assessments (70 percent of market value), an increase of $63,549,269 from 2017’s total of $4,672,820,115, according to a preliminary grand list report completed by Assessor William H. Gaffney III and submitted to the mayor’s office on Jan. 31.
“Economic development,” said Mayor Mark Lauretti about why the grand list continued its growth this past year. “We’ve had 28 years of great growth, steady, predictable growth.”
More than 85 percent of the grand list is made up of real estate, which lists at $4,003,178,049, a 0.53 percent increase from the previous year. Personal property jumped 10.73 percent, or $38,279,415, rising to $395,073,365. Motor vehicle assessments were at $338,117,970, rising $4,246,575, a 1.27 percent hike, from 2017.
Under real estate, $3,043,093,119 were listed as residential; $639,362,742 as commercial; $186,972,108 as industrial; $20,144,040 as public utility; and $107,096,460 as apartments.
The assessor’s release also included the total assessments for the city’s top taxpayers for the 2018 grand list, which was led once again by Robert Scinto at $212,843,297. Scinto was followed by United Illuminating Co. at $71,136,120; Avalon Shelton III LLC at $30,208,150; and Shelton Properties LLC Trustee at $27,999,620.
In Connecticut, assessed values represent 70% of the market value.