Plymouth grand list grows $5.7 million in revaluation

Published on Friday, 9 March 2018 21:10
Written by SUSAN CORICA

@coricaBP

PLYMOUTH - The town’s grand list for 2017 is up by $5.7 million from the year before.

The grand list details the total taxable property in the community as of Oct. 1, 2017. Whether it has grown or not will help determine what the town’s tax rate will be once the revenues necessary to fund the 2018-19 town budget have been determined.

The net total overall is now $747,188,591.

Only the real estate portion of the grand list showed a decline. The net total of taxable real estate is now $625,147,910, down $80,480 from 2016.

The net total for personal property is $31,859,079 now, up $3,145,180 from 2016. The net total for motor vehicles is $90,181,602 now, up $2,979,282 from 2016.

The town went through revaluation in 2016, which is the process for periodically measuring changes in property values. The value is a property’s resale or fair market value, which changes over time. By law, towns must assess property for 70 percent of fair market value.

Assessor Christie Arena said after the revaluation a number of homeowners in town successfully appealed their assessments. That was enough to offset three businesses in the town’s business park whose tax abatements granted by the town expired last year: The Nutmeg Spice Co., Reach for the Stars Academy of Dance, and Prestwick Property Management LLC.

Of the Top 10 Taxpayers, Eversource Energy, listed under its former name Connecticut Light & Power Co., remained number one. It is valued at $11.9 million, up by about $1.4 million from the year before.

It is followed by Connecticut Water Co., valued at $5.7 million, up by $326,290 from 2016.

Roth Collection Inc., which owns the Adams IGA plaza, remains in third place. Its value has gone down slightly, to $2.9 million.

City of Bristol Water Co. remains in fourth place. Its value remains the same at about $2.6 million.

Yankee Gas Service Co. moved up one to fifth place, rising in value to about $2.5 million.

Senior Housing at Quail Hollow Inc., dropped in value to $2.3 million and dropped to sixth place.

Cook Willow Realty Partnership, which owns Cook Willow Convalescent Home, remains at seventh place, still valued at $1.8 million;

Inland Intermodal LLC, which owns Inland Fuel Terminals Inc., remains at eighth place, and remains valued at $1.8 million. Inland Fuel, located at 370 S. Main St., moved into town in 2015. The company was granted a 50 percent tax abatement for its first five years in town, which will drop to 40 percent in the sixth year, 30 percent in the seventh year and zero after that.

Dimeo Terryville LLC, which owns Terryville Chevrolet, is still ninth on the list and still valued at $1.7 million.

Rubicon Realty LLC, which owns apartments on Main Street, remains at 10th place. Its value rose slightly to about $1.6 million.

Susan Corica can be reached at 860-584-0501 ext. 1802 or scorica@bristolpress.com.



Posted in The Bristol Press, Plymouth on Friday, 9 March 2018 21:10. Updated: Friday, 9 March 2018 21:12.