New London grand list jumps by 9.45 percent in 2018

New London — The revaluation of city properties has helped boost the city’s 2018 grand list by 9.45 percent.

The net taxable grand list totaled $1.45 billion in 2018, up from the $1.325 billion reported in 2017. The gross total value of all properties was $2.46 billion, with tax-exempt properties totaling $947.8 million.

The net taxable real estate values grew by $115.2 million to $1.2 billion, a 10.45 percent increase. Personal property rose 7.5 percent, from $118.9 million to $127.8 million. Motor vehicle values increased by 1 percent, or $1.1 million, to $105.5 million.

It was the highest increase since 2008, another revaluation year, when property values jumped by 21.5 percent, information provided by Tax Assessor Paige S. Walton shows. The grand list dropped by 20 percent in the last revaluation in 2013.

New London’s Top 10 taxpayers had a combined net assessed value of $236.9 million, up from $205.5 million in 2017. The top 10 taxpayers remained the same as last year but shifted positions in places:

  • Electric Boat Corporation, $65.5 million
  • Connecticut Light & Power, $33.9 million
  • Yankee Gas Services Co., $30.8 million
  • Cedar PCP-New London LLC (New London Mall), $23.8 million
  • Vesta Winthrop LLC (apartments, Huntington Street), $18.2 million
  • Ocean Beach Apartments LLC, $16.9 million
  • Ansonia Acquisitions I LLC (apartments, Hawthorne Drive), $16.4 million
  • New London Shopping Center LLC, $12.7 million
  • Renaissance City Development Association, $9.9 million
  • Computer Sciences Corporation, $8.9 million

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