NAUGATUCK — The borough’s grand list increased more than 5 percent following a recent property revaluation.
Naugatuck’s 2018 net grand list is $1.71 billion, an increase of $89.82 million or 5.52 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 48.35 mills, the increase in the grand list equates to $4.34 million in additional tax revenue.
Assessor Carol Ann Tyler attributed the increase in the grand list mainly to a rise in property values overall following the revaluation that was completed last year. The state requires municipalities to perform a full property revaluation every 10 years to assess the market values of real estate for tax purposes, and a less-intensive revaluation every five years.
The assessed value of real estate in Naugatuck increased by $81.88 million, or 6.09 percent, to $1.42 billion.
Mayor N. Warren “Pete” Hess said he was happy to see that Naugatuck’s grand list experienced fast growth compared to some towns that have seen slow growth or decreases in their grand list.
“The increase in the grand list is clearly a testament to the fact that property values are going up and we are heading in the right direction,” Hess said.
The assessed value of personal property increased by about $6 million, or 5.74 percent, to about $109.6 million.
Tyler said more businesses and homeowners are installing solar panels. In total, she said, the assessed value of solar panels in the borough is about $4.5 million. The taxes on the solar panels are paid for by the companies that own them rather than the homeowners and business owners.
The assessed value of motor vehicles increased by $1.92 million, or 1.07 percent, to about $189.5 million.
While the number of new car purchases are down from the previous grand list, Tyler said there are more cars overall registered in the borough.
Hess said he expects to see more growth in the grand list in the future.
“We are on the right path,” Hess said.
Top ten taxpayers
Yankee Gas Services Co….$26,863,550
Connecticut Light & Power Co….$24,512,900
Connecticut Water Company…$14,152,300
Garden Homes Naugatuck…$11,131,780
Wal-Mart Real Estate…$8,690,700
Ansonia Acquisitions I LLC…$8,226,990
Bridge Shopping Ctr Ltd…$7,486,530
Southwood Gardens LLC…$6,728,080
The figures denote the combined real estate, personal property and motor vehicle assessments for the taxpayers listed. Figures provided by the Naugatuck Assessor’s Office.