Government

New Canaan Grand List Up $85.3 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 $85.3 million from 2014 to 2015, officials say. The $8,222,215,988 total represents a year-over-year 1.0479 percent increase, according to the New Canaan Assessor’s office, which compiles the town’s Grand List. The Grand List measures the total value of taxable property on Oct. 1 of each calendar year. It’s 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.

Government

New Canaan Grand List Up $84.5 Million; Top-10 Taxpayer Accounts

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Despite fears that changes to New Canaan’s taxing structure would harm the town’s finances, the total value of taxable property here—including homes, commercial properties and motor vehicles—increased by $84.5 million from 2013 to 2014, officials say. The $8,136,949,551 total represents a 1.0489 percent increase, according to the New Canaan Assessor’s office, which compiles the town’s Grand List. Asked what the news means to local taxpayers, First Selectman Rob Mallozzi said two things:

Panic about a potentially decreased Grand List following higher taxes on homes in the $1 million range and lower taxes on those in the $3 million to $4 million range were off-base; and
Robust building activity and new construction—much of it to accommodate new families with school-age children moving to town—will help offset the cost to New Canaan of providing high-quality services to those and other residents. The increase is “a wonderful indication about where the town is in terms of desirability,” Mallozzi said. “The Grand List being healthy and growing is what you want in a community,” he said.