Prospect’s grand list increases for 6th straight year

PROSPECT — The town’s net grand list continues to move in a positive direction.

Prospect’s 2018 net grand list is $864.28 million, an increase of $10.96 million or 1.28 percent, over the 2017 net grand list.

A municipality’s net grand list is a tabulation of the assessed taxable values of real estate, personal property and motor vehicles.

Based on the 2018-19 tax rate of 31 mills, the increase in the grand list equates to $339,811 in additional tax revenue.

This is the sixth year in a row that the town’s grand list increased.

Mayor Robert Chatfield said the increase shows that Prospect is still headed in the right direction.

“We are still moving forward. People are choosing to come to Prospect,” Chatfield said.

The assessed value of real estate increased by $7.7 million, or 1.05 percent, to $741.6 million.

Assessor James Clynes said the increase is due primarily to new and partial dwellings that have been constructed at Regency at Prospect, a community for people 55 years old and older. The town also saw three new commercial buildings, including a Dollar General, constructed along Union City Road, he said.

The assessed value of personal property decreased by $271,759, or 0.83 percent, to about $32.5 million.

Clynes said the decrease was due to businesses not making as many purchases and the depreciation of personal property.

“No one is buying new equipment and the equipment that is out there depreciates by 10 percent each year,” Clynes said.

The assessed value of motor vehicles increased by $3.5 million, or 4.04 percent, to about $90.14 million.

Although there is the same amount of cars as the previous year, Clynes said people are buying more new cars or renewing their leases with newer cars.

Chatfield pointed out the town has more vehicles registered in town than residents.

Clynes said the town expects the grand list to continue growing, boosted by the fact that Regency at Prospect has another phase of building to complete.

“We like that growth. We expect it to continue because Regency has a whole new phase to continue down there with another 50 or 60 units. I don’t know if we will get any more commercial business, but there are people looking all the time to put something on Waterbury Road or Union City Road,” Clynes said.

Top 10 taxpayers

Yankee Gas Services Co.…$8,362,930

Connecticut Light and Power…$7,139,480

Geloso Enterprises LLC…$5,139,810

Prospect Medical LLC…$5,086,050

Paulmar Associates Limited Partnership…$4,303,270

Cassata Joseph & Vincenza (CVS)…$ 3,074,660

The Connecticut Water Co…$2,977,599

Toll CT Limited Partnership…$2,921,530

ACAR Leasing LTD…$2,784,300

43 Candee LLC…$2,690,550

The figures denote the combined real estate, personal property and motor vehicle assessments for the taxpayers listed. Figures provided by the Prospect Assessor’s Office.