Loss of personal property leads to decline in Durham grand list

Loss of personal property leads to decline in Durham grand list

Record-Journal
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Durham’s taxable grand list decreased by almost one percent from last year. 

The total gross grand list comes to $700,706,406, which is down about .94 percent from last year’s $707,322,361.

The approximately $6.6 million total net grand list decrease represents about $241,500 in revenue at 36.5 mills.

“Unlike in recent years when personal property assessments grew more than other segments, the personal property portion of the grand list fell considerably, dropping about 16.25 percent to $33,736,108,” First Selectman Laura Francis said in an email. 

The departure of Above and Beyond Equipment Rentals, and sister company Above and Beyond of Fairfield, from town last year was a large portion of the personal property loss, since it had the second and third highest assessments. Its assessments totaled more than $7.2 million.

Francis said there are also 14 fewer businesses operating in town, bringing the total to 481. 

Real estate assessments, which now make up 85.7 percent of the entire grand list, stayed relatively consistent, increasing less than a quarter percent. 

The total net assessed value of all real estate is $600,666,268, which is a $824,000 increase from last year, Francis said. Construction of three new homes added $620,000 to the grand list. Commercial real estate fell slightly, to $18.8 million. 

Motor vehicles also dropped, about 1.2 percent, to a net assessed value of $66,304,030 for just over 8,000 registered vehicles. 

Middlefield’s grand list announcement has been delayed one month past the state-mandated Feb. 1 deadline, due to the town having recently hired a new tax assessor. 

bwright@record-journal.com
203-317-2316
Twitter: @baileyfaywright


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