PROSPECT — The value of the grand list of taxable property rose 1.42 percent this year, according to assessor James Clynes.
The grand list rose $11.7 million to $835,644,642, Clynes said. At the current tax rate of 29.23, that would produce an extra $342,000 in taxes.
He said most of growth came from new homes at the Regency condominium complex. He said 66 new homes were added to the grand list this year.
Real estate went up $8.8 million, or 1.25 percent, to $719.6 million with 92 percent residential properties and 8 percent commercial. That distribution hasn’t changed much in the four years Clynes has worked in Prospect, he said.
Personal property remained flat at $32.3 million, with businesses not purchasing much in the way of new equipment.
Although the motor vehicle list went up $2.8 million, or 3.47 percent, to $83.6 million, Clynes said problems with the state Department of Motor Vehicles’ new computer system means there may be some inaccuracies on that list.
Clynes said he found 238 vehicles on the list of 10,300 that he believes belong to other towns.
This year, Prospect had a revaluation as required by the state every five years. Clynes said the value of most residential properties stayed fairly flat, rising or falling half a percent, while commercial properties rose in value a little more, one to 1.5 percent.
Mayor Robert Chatfield said he is pleased with the small increase.
“I was concerned that, maybe because it’s a revaluation year, that it would’ve gone down,” he said. “I was going to be happy if it stayed the same.”
He said the extra revenue will help keep the tax rate down.
Chatfield said he has been working on the 2016-17 budget since December and said he is working on the bottom line.
“I have my eraser out,” he said.
By combining the town and school heath care plans, Chatfield said he expects to save $50,000 to $75,000 on insurance costs. Going from 21 town employees to a much larger pool helped lower rates, he said.
He said he is still working on salaries and will soon be starting negotiations with the public works union.
Luke Marshall contributed to this article.
Top 10 taxpayers in Prospect
- Yankee Gas Services Co., $8,630,710
- Connecticut Light & Power Co., $6,219,950
- Geloso Enterprises, $5,139,810
- Prospect Medical, $5,085,050
- Paulmar Associates Limited Partnership, $4,088,500
- Toll CT Limited Partnership, $3,469,220
- The Connecticut Water Co., $3,194,040
- 43 Candee, $2,690,550
- LRH, $2,426,730
- Royal Senior Holdings, $2,298,560
The figures represent the assessment for the taxpayers. List provided by the Prospect Assessor’s Office.