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New London grand list jumps by 9.45 percent in 2018

February 13, 2019

New London — The revaluation of city properties has helped boost the city’s 2018 grand list by 9.45 percent.

The net taxable grand list totaled 1.325 billion reported in 2017. The gross total value of all properties was 947.8 million.

The net taxable real estate values grew by 1.2 billion, a 10.45 percent increase. Personal property rose 7.5 percent, from 127.8 million. Motor vehicle values increased by 1 percent, or 105.5 million.

It was the highest increase since 2008, another revaluation year, when property values jumped by 21.5 percent, information provided by Tax Assessor Paige S. Walton shows. The grand list dropped by 20 percent in the last revaluation in 2013.

New London’s Top 10 taxpayers had a combined net assessed value of 205.5 million in 2017. The top 10 taxpayers remained the same as last year but shifted positions in places:

Electric Boat Corporation, 33.9 millionYankee Gas Services Co., 23.8 millionVesta Winthrop LLC (apartments, Huntington Street), 16.9 millionAnsonia Acquisitions I LLC (apartments, Hawthorne Drive), 12.7 millionRenaissance City Development Association, 8.9 million
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