New London — The city’s grand list of taxable properties grew by 2.95% in 2019, buoyed by a $23 million jump in personal property value.

The overall 2019 net taxable grand list totaled $1.49 billion. Net taxable real estate increased by $12.8 million to $1.2 billion, a 1.06% increase. Taxable personal property grew by $23.4 million to $151.2 million, an increase of 18.32%. Motor vehicle values rose by 6.23% to $112 million.

Tax-exempt properties totaled $1.02 billion in 2019, a 1.20% increase from 2018.

City Tax Assessor Rochelle Lambert said there were several construction projects in various stages of completion throughout the last year that resulted in additional equipment being added to the personal property list. Additionally, she said some accounts self-reported new assets for 2019 and there were a few accounts that transferred ownership from a tax-exempt entity to a taxable entity.

The City Council in 2018 approved the use of Tax Management Associates Inc. to audit 270 business accounts and look over personal property declarations.

The Board of Assessment Appeals will continue to hold appeal hearings through next month, which could impact the final numbers, she said.

The modest increase in the grand list for 2019 follows a 9.45% jump in 2018, partly due to revaluations that boosted real estate property values by 21.5%.

New London’s Top 10 taxpayers had a combined net assessed value of $237.8 billion:

[naviga:ul]

[naviga:li]Electric Boat Corporation, $65.2 million.[/naviga:li]

[naviga:li]Yankee Gas Services Co. (Eversource), $34.3 million[/naviga:li]

[naviga:li]Connecticut Light & Power Co. (Eversource/DOT/Amtrak), $33.4 million.[/naviga:li]

[naviga:li]Cedar PCP-New London LLC (NL Mall), $23.8 million.[/naviga:li]

[naviga:li]Vesta Winthrop LLC (Huntington St. Apts.), $18.8 million[/naviga:li]

[naviga:li]Ocean Beach Apartments LLC, $17.2 million.[/naviga:li]

[naviga:li]New London Shopping Center LLC, $12.6 million.[/naviga:li]

[naviga:li]Ansonia Acquisitions I LLC (Hawthorne Drive Apts.), $12.5 million[/naviga:li]

[naviga:li]Renaissance City Development Association (1 Chelsea St.), $10.9 million[/naviga:li]

[naviga:li]New London Housing Authority, $8.8 million[/naviga:li]

[/naviga:ul]