Southington releases Grand List, saw a 3.38% increase

Published on Friday, 28 January 2022 12:17
Written by BRIAN M. JOHNSON

@brianjohnsonBP

SOUTHINGTON – The Town of Southington has released its Grand List, which saw a 3.38% increase over last year. The increase was spurred by a statewide trend of motor vehicle value increasing says Town Manager Mark Sciota.

The Grand List increased from $4,436,930,425 to $4,586,919,685. This is an increase of $149,989,260 or 3.38%.

“While the residential side of construction continues, we have experienced a leveling off of the commercial/industrial side of real estate growth,” said Town Manager Mark Sciota. “However, the Assessor’s Office expects that to turn around in the next few years. That activity would also increase the personal property aspect of our Grand List, as additional businesses are drawn to our wonderful town.”

Sciota added that he plans to begin a personal property audit program in the next year or two, which he said would “undoubtedly add to a grand list increase in the future.”

Real Estate increased from $3,733,481,210 to $3,767,004, 203 – an increase of $33,522,993 or 0.90%.

“This year saw a continuation of last year’s trend, whereby very little commercial and industrial development was completed,” said Sciota. “The increase in the real estate grand list this year is primarily due to residential development.”

Sciota added that many residents took the time for home improvement projects during the pandemic, which increased the property value of their homes.

“In what appears to be a response to the covid pandemic, we have noticed a marked increase in pools, patios, decks and hot tubs being installed,” he said. “Finished basements have also appeared to be a popular home improvement project during the past 18 months.”

Personal Property taxes increased from $291,453,940 to $304,079,771 – an increase of $12,625,831 or 4.33%

“Our personal property Grand List shows an average increase compared to last year’s modest offering,” said Sciota. “We have noticed hesitant growth among Southington businesses, indicated by asset purchases that were perhaps avoided during the prior Grand List year.”

Motor vehicle taxes increased from $411,995,275 to $515,835,711 – a notable increase of $103,840,436 or 25.20%.

“An odd phenomenon occurred in Southington this year,” said Sciota. “It appears to be the general trend throughout all municipalities in the state. The motor vehicle Grand List increased over 25%. The number of vehicles on the grand list went up by 1.6% and used vehicle values actually appreciated. An analysis of these numbers indicates that, had we experienced an increase in our motor vehicle grand list similar to last year, the overall grand list would have reflected a more traditional increase of approximately 1.7%.”

Brian M. Johnson can be reached at 860-973-1806 or bjohnson@bristolpress.com.



Posted in The Bristol Press, Southington Herald on Friday, 28 January 2022 12:17. Updated: Friday, 28 January 2022 12:20.