Grand list increases

#MiddleburyCT #GrandList

These tables show the top taxpayers for 2022 and 2023. Eversource is represented by two companies – Connecticut Light & Power and Co-generational Interconnect.

By MARJORIE NEEDHAM

Middlebury Assessor Chris Kelsey said the grand list effective October 1, 2022 (for the 2023 tax year) totals $1.19 billion compared to $1.17 billion on October 1, 2021. This is an increase of $25 million, a 2 percent increase. Last year’s grand list increased $182 million, or 18.4 percent, but that increase was due to the revaluation of real property conducted in 2021 by Vision Appraisal. Other than the revaluation increase, Kelsey said this year’s increase was the largest annual increase since 2014.

The grand list comprises three categories of taxable property – real estate, personal property and motor vehicles. Kelsey said there was no outstanding increase in any one of those categories. “There has been steady growth in each category,” he said.

The lowest increase this year was in the largest category, real estate. It rose to $1.02 billion from $1.01 billion. This was an increase of $10.5 million, or 1 percent.

Motor vehicles rose to $109.5 million from $100.7 million, an increase of $8.8 million, or 8.7 percent. This compares to last year, when it rose 30.3 percent. Kelsey said of that increase that the Covid pandemic had a dramatic effect on motor vehicle values. He said a chip shortage and used car shortage caused used car values to go through the roof.

Personal property values rose to $66.07 million from $60.28 million, an increase of 5.8 million, or 9.6 percent, making it the category with the highest percentage increase. That compares to the previous year, when it increased by $1.7 million, or 3 percent.

In the exemptions category (amounts subtracted from the grand list total) the exemption from taxes for businesses qualifying for the tax incentive programs decreased to $1.7 million from $2.1 million the previous year. This was a decrease of $422,346, or 20 percent.

The effect the $25 million increase will have on taxpayers’ mil rate remains to be seen. As of press time, Middlebury First Selectman Ed St. John has presented a proposed 2023-2024 budget to the Board of Finance, but the Board of Finance may make adjustments to it. The Region 15 proposed 2023-2024 budget will be presented February 27. The mil rate will be set by the Board of Finance following the May 3 budget referendum when taxpayers vote on both budgets.