Prospect grand list increases nearly 3 percent

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ProspectBushPROSPECT — At a time when many town’s grand lists are stagnant, Prospect’s increased nearly 3 percent thanks largely to a new gas pipeline and a new banquet hall.

The town’s grand list total for Oct. 1, 2012 was $806,805,842, an increase of $23,122,365 or 2.95 percent over the previous year’s total.

“I’m very pleased with the increase,” Mayor Robert Chatfield said. “Last [year] the grand list went down $45 million because of the revaluation. This increase will help offset that.”

A town’s grand list is a tabulation of the value of assessed real estate, personal property and motor vehicles.

Town Assessor James Clynes said the major increases were in personal property and real estate assessments.

Assessed real estate for the 2012 grand list is $702,155,210, an increase of $13,813,640 or 2 percent.

Assessed personal property for the 2012 grand list is $29,899,977, an increase of $8,310,090 or 38.49 percent.

“On the real estate side we had a new banquet facility. It’s not done yet but that added to the real estate,” Clynes said. “Personal property increased by over $7 million when Yankee Gas completed putting their pipeline through Prospect.”

The Aria Wedding & Banquet Facility by Villa Rosa is currently under construction on Murphy Road by the Geloso family. Clynes also attributed the rise in the real estate assessment to more condos being built in The Regency at Prospect, an age-restricted community off Scott Road.

In the past year, Yankee Gas put in 4.6 miles of new gas main in town. The gas main, along with new purchases made by small businesses, or new businesses that moved into town declaring their furniture, fixtures and equipment led to the increase in the personal property assessment, Clynes said.

Assessed motor vehicles for the 2012 grand list is $74,750,655, an increase of $998,635 or 1.35. Clynes said motor vehicles that held their value and new purchases led to the increase.

Based on the current mill rate of 27.58 mills, the increase in the grand list would bring in an additional $637,000 in revenue for the town, Clynes said.

Chatfield said the increase in the grand list means the town is growing and that people have confidence in the town.

“Our grand list is back to growing,” Chatfield said. “Hopefully next year we will make up what we have lost from the revaluation.”

Top 10 Taxpayers

Yankee Gas Services Co., $8,754,450

Rosa & Giuseppe Geloso, $7,507,800

Connecticut Light & Power, Co., $5,529,490

Prospect Medical LLC, $5,095,120

Toll CT Limited Partnership, $4,240,170

Paulmar Associates Limited Partnership, $3,807,130

The Connecticut Water Co., $3,105,830

43 Candee LLC, $2,669,160

LRH LLC, $2,353,490

Health Care Reit Inc., $2,293,800

The figures represent the total assessment for real estate and personal property. List provided by the Prospect Assessor’s Office.