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CORRECTION: Grand List Increase Stands at $88 Million

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For those who have missed our correction as published on the updated story: NewCanaanite.com wrongly reported the Grand List increase at $629 million on Wednesday morning. I apologize for the mistake. 

I’d entered ‘7.936’ in my calculating spreadsheet instead of ‘7.396,’ which led to the wrong figure. It was published in our newsletter headline before I caught my error. Sorry about that—I’ll be more careful in the future. The first selectman’s office and assessor both had provided accurate information on the Grand List, and the inaccurate report was entirely my own fault.

The newsletter is a static emailed page, and it took about one hour for the site to cache the correction after I updated the story, so those who came into the site via the newsletter or directly before about 7:30 a.m. received inaccurate information.

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Grand List Increases by $88 Million; Top-10 Taxpayer Accounts [CORRECTED]

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[CORRECTION: NewCanaanite.com wrongly calculated the Grand List year-over-year increase prior to the Feb. 1, 2023 newsletter going out. I apologize for the mistake. A standalone correction can be found here.]

The total value of taxable property in New Canaan—including homes, commercial properties and motor vehicles—increased by about $88 million from 2021 to 2022, according to preliminary figures. 

Given the last budget cycle’s mill rate of 18.372, the year-over-year increase in funds for the town from the taxable property would come to about $1.6 million—though the Grand List won’t be finalized until after the Board of Assessment Appeals process. The Grand List’s $8 billion total reflects upticks in the total value of taxable real estate and personal property and motor vehicles.

Board of Assessment Appeals

Grand List Increases by $27.6 Million; Top-10 Taxpayer Accounts

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The total value of taxable property in New Canaan—including homes, commercial properties and motor vehicles—increased by about $27.6 million from 2018 to 2019, according to data from the assessor. Given a mill rate of 18.029, the year-over-year increase in funds for the town from the taxable property would come to about $498,000. The Grand List’s $7.7 billion total reflects upticks in the total value of taxable real estate and personal property and motor vehicles. Here’s a table that details year-over-year growth:

 

The Grand List measures the total value of taxable property on Oct. 1 of each calendar year.

Government

Grand List Increases by $50.7 Million; Top-10 Taxpayer Accounts

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The total value of taxable property in New Canaan—including homes, commercial properties and motor vehicles—increased by $50.7 million from 2016 to 2017, according to preliminary figures. Given a mill rate of about 17, the year-over-year increase in funds for the town from the taxable property would come to about $861,000. The figure is nearly $500,000 less than it has been in recent years. The Grand List’s $8.3 billion total reflects upticks in the total value of taxable real estate and personal property and a slight decline in motor vehicles. Here’s a table that details year-over-year growth:

 

The Grand List measures the total value of taxable property on Oct.

Government

Grand List Up $80.6 Million; Top-10 Taxpayer Accounts

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The total value of taxable property in New Canaan—including homes, commercial properties and motor vehicles—increased by $80.6 million from 2015 to 2016 according to preliminary figures, officials say. The $8.3 billion total represents a year-over-year .98 percent increase, according to the New Canaan Assessor’s office, which compiles the town’s Grand List. Here’s a table detailing year-over-year growth:

 

The Grand List measures the total value of taxable property on Oct. 1 of each calendar year. Here’s a table related to the Grand List, showing the gross top-10 taxpayer accounts in New Canaan for real estate—click on each address for more assessor information:

 

The Grand List is the denominator that finance officials use to set the tax rate—the higher it is, relative to the total revenue in the town budget, the lower that rate will be.