CHESHIRE – The value of taxable property in town rose last year by nearly one percent, led by growth in personal property.
The town’s grand list is the total value of real estate, personal property and motor vehicles. The Oct. 1, 2018 grand list grew by 0.83 percent or $23 million over the previous year.
Personal property, which includes commercial equipment, grew the most at 7.3 percent or $10.7 million. Real estate and motor vehicle value also increased with a total of $12 million.
Town Manager Sean Kimball said business growth helped increase the value of personal property in Cheshire. Increases in other areas was also welcome since the 2018 grand list included a revaluation of properties.
The revaluation five years ago resulted in a drop of more than six percent to the grand list.
“It’s a solid year,” Kimball said. “I was certainly hoping there wouldn’t be a hit.”
Utility companies, food distributors, warehouses and real estate companies topped the list of Cheshire’s largest taxpayers.
Town leaders use the grand list to set the mill rate, which reflects the taxes per $1,000 of assessed property value.
Tim Slocum, a Town Council member and budget committee chairman, said grand list growth was good news. He’s been asked by constituents about whether taxes will go up or down, a question he can’t yet answer.
“Usually the budget is such a monster it eats up that savings,” he said.
While there are some vacancies at Cheshire shopping plazas, the grand list results seemed to show that “in general, businesses and homeowners are doing okay,” Slocum said.
“There was some growth. That was a good thing,” he said.
Cheshire also has some construction projects, such as the Hartford HealthCare building on South Main Street, that will be completed in time for the grand list later this year. That can help continue moving the town’s taxable property total in the right direction, Slocum said.
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