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Waterford grand list increases by 1.71%

Waterford — The town's 2020 grand list represents a 1.71% increase from last year.

According to the town's assessor, Paige Walton, the overall net grand list for combined motor vehicle, real estate and personal property values totaled $3,387,908,016 — a $56,951,059 increase over the 2019 total. Dominion Energy, owner of Millstone Power Station nuclear plant, was the town's top taxpayer at $251,115,933. The grand list still has to go through the Board of Assessment Appeals process in early March.

Waterford saw a $14,760,819, or 0.64%, increase for real estate, a $30,751,733, or 3.62%, increase for personal property and a $11,438,507, or 7.19%, increase for motor vehicles.

"The net increase in real estate is due to new construction and property improvements resulting from building permits and from a close review of property sales wherein significant property improvements were noted," Walton wrote in a memo to town officials. "Increases in the declared personal property of both Dominion and CL&P — $16.9M and $9.8M, respectively — accounted for the bulk of this year's net personal property increase."

This year's motor vehicle list has 682 fewer vehicles this year, mostly because of the state Department of Motor Vehicles' extension on vehicle registration renewals, Walton posits.

"Despite the vehicle count decrease, the demand for used cars over the past year has resulted in either value retention or appreciation," Walton wrote. "Surrounding towns are reporting similar rates of increase."

Top 10 Waterford real estate taxpayers by assessed value:

  1. Dominion Energy, $1,133,197,408.
  2. Eversource, $98,709,340.
  3. Crystal Mall LLC (mall stores), $30,690,018.
  4. Waterford Commons Plaza, $29,145,260.
  5. Mass Municipal Wholesale Electric, 426,098,759.
  6. Crossroads Plaza, $13,976,930.
  7. Charter Oak Federal Credit Union, $13,547,160.
  8. Sonalysts Inc., $12,606,480.
  9. Wal-Mart Real Estate Business Trust, $12,283,794.
  10. Yankee Gas Services Co., $12,003,080.

 

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