Town officials said Tuesday that the value of all taxable property in New Canaan is not expected to change substantially as a result of assessment appeals following the recent revaluation. The Grand List likely will see a reduction of about $20 million after the Board of Assessment Appeals completes its work, according to Sebastian Calderella, the town assessor. During a regular meeting of the Board of Selectmen, Caldarella provided the following history of appeals after a town-wide reval:
“It varies, depending on where the market is going,” Caldarella said during the meeting, held at Town Hall.
First Selectman Kevin Moynihan noted that the figures Caldarella cited are not final since some people appeal local assessment decisions in court. Officials have said New Canaan’s Grand List would decline by some $570 million as a result of the revaluation, to about $7.7 billion overall. Selectman Nick Williams called the $20 million figure is “a proverbial drop in the bucket” as part of the overall Grand List.