New London’s grand list rises sharply due to revaluation
New London ― The city’s grand list of taxable property rose to $2.17 billion in 2023, a nearly $549 million jump largely attributed to a recent property revaluation.
Net real estate assessments grew by $543 million, or 42.8%. Personal property assessments such as business equipment, increased by $15 million, or 8%. Motor vehicle assessments decreased by $9.5 million.
Residential values, including rentals, shot up 60%. Commercial properties also increased 20% and industrial properties by 25%.
The grand list notes there is $1 billion worth of tax-exempt real estate in the city compared to $958 million in 2022.
New London’s top 10 taxpayers:
1.Electric Boat Corp., $90.8 million
2. Yankee Gas Services Co. DBA Eversource, $49.1 million
3. Connecticut Light & Power Co, Eversource/DOT/Amtrak, $39.1 million
4. G&I X New London Mall LLC, $26.9 million
5. Nutmeg Woods Owner (Ansonia Acquisitions), $26.7 million
6. Village at Shore Landing LLC, $26.2 million
7. Vesta Winthrop LLC (Apartments-Huntington Street), $24.7 million
8. New London Shopping Center LLC, $13.1 million
9. Faire Harbour Landing LLC, $12.6 million
10. Mohican Historic Preservation LP, $11 million
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