Growth in 2010 Grand List Highest Since '08-'09

The town recently released its 2010 Grand List, or the total list of all taxable property in town, which increased 1.01 percent over the previous year. While the increase in the $1,282,095,781 list is modest, it is still an improvement from the previous year, which saw a .75 percent increase. 

“The grand list growth for a community that prior to ’08-09 was about 4 percent has flattened to about under 1 percent for the last two years,” said Town Manager Steven R. Werbner in a community conversation on the town budget Thursday night.

He attributed the latest boost to construction at the sports complex Star Hill Family Athletic Center and the development in the surrounding industrial area, which led to the major increase in real estate values.

Real estate, the largest portion of the list at 89.1 percent, experienced an increase of .91 percent. Residential property comprises 82.23 percent of the list, with 6.90 percent being commercial/industrial property.  Two new homes were prorated during the past year, according to Werbner.

Motor vehicles made up 8.88 percent of the Grand List. The increase in assessment is 4.94 percent, with an additional 22 vehicles, making the grand total of registered vehicles in town 15,886, as of October 1, 2010.

Personal property accounts, the majority of which were home businesses, comprised 2 percent of the list. With a loss of 24 accounts, it saw a decrease of 6.28 percent. According to Werbner, the decrease is due the phasing out of a personal property tax on manufacturing equipment. 

“Starting with the 2011 Grand List, no new manufacturing equipment will be added,” he said. Portions of the exemption, previously experienced under a five-year state program, will be received as an M 65 grant from the State, according to Werbner.

An additional decrease in personal property is attributed to the implementation of a new accelerated depreciation schedules for all computers in Tolland, which was approved by the Town Council after a 2004 revaluation. The implementation took effect at the 2009 revaluation.

All figures are subject to adjustment made by the Board of Assessment Appeals, which will meet in March.

The Net Top Ten Taxpayers for the Town of Tolland 2010 Grand List are as follows:

1.  Capitol Ventures LLC (Shopping Center) $12,335,300
2. CT Light and Power Co. (Public Utility) $8,010,750
3. MJB Realty LLC (Sports Complex) $6,260,300
4. Summers & Summers Realty (Holding Company) $4,128,000
5. Ivy Woods LLC (Apartments) $3,964,000
6. Gerber Scientific Inc. (Manufacturing) $3,953,800
7. Carriage Crossing LLC (Builder/Developer) $3,817,100
8. Norwegian Woods LLC (Apartments) $3,597,000
9. Dari Farms Ice Cream Co. (Distribution) $2,847,140
10. Tomlen LLC (Real Estate Development) $2,789,500