The town’s revenue potential has inched upward — ever so slightly — with a 0.007 percent increase in the grand list.
Presuming the mill rate holds steady at 25.8, the growth would translate into more than $282,000 in revenue for the town.
“In this economy, we are glad to have it go up,” said First Selectmen Paul Roy.
Real estate jumped $8.77 million from 2008, for a 0.007 percent increase. Personal property was the largest percentage increase from 2008, at 0.017 percent.
Selectmen member Kurt Miller noted the two highest assessed commercial properties, Tri-Town Plaza and New Haven Copper and Wire, are both likely to ask for a reconsideration.
The town and Tri-Town Plaza’s owner, Ron Spector, have been locked in a legal battle over the property’s assessment for years.
Tri-Town Plaza’s assessment now stands at $5.11 million.
Miller noted that New Haven Copper was sold for significantly less than the owner anticipated, and will likely come with a request to have the assessment looked at.
Roy addressed Miller’s concerns about New Haven Copper.
“The owner will come before the Board of Selectmen and the EDC (Economic Development Commission) and let us know what his plans are,” Roy said.
New Haven Copper stands as the second highest assessed commercial property on the grand list at $1.63 million.
The remaining top assessed commercial properties are the Walgreens Plaza, $1.059 million; Seymour Lumber, $497,770; Housatonic Wire, $493,220; Shell Station, $310,030; Electric Cable Compound, $476,660; Actor’s Colony, $491,120 and Rogols, $195,580.
Of those properties five are marked as former and the Actor’s Colony is an estimate including new construction.
Another five of the top payers are located in the industrial park. Roy has been meeting with business owners at the park to find out what they need to help support and foster growth. A plan is being investigated to provide better signage for the industrial park.
Board member John Conroy Jr. said, “They make a huge part of a our tax base right now.”
The Kerite Company tops ten highest gross assessments on personal property list at $14,575,550. Baker Residential Limited Partnership came in second at a few thousand dollars shy of $8 million.
The bottom slot on the list was claimed by RAF Electronic Hardware with a gross assessment of $4.586 million.
Looking to the future, the board is beginning to make plans for an already delayed property revaluation. No money has been budgeted for such an endeavor, which Roy has estimated at $360,000.
He is requesting the board place $180,000 in the budget this year and another $180,000 next year to with the long-term goal of funding the revaluation.
Once done, the revaluation could see significant shifts in property values and the tax burden division between residential and commercial properties.
