East Lyme ― The town’s 2023 grand list is up 0.65%, with lower motor vehicle values dragging down an increase in real estate.

Assessor Diane Vitagliano said the $2.8 billion grand list shows an increase of $18 million.

Real estate comprises $2.5 billion of the list and is up by $25.9 million, or 1.04%. Vitagliano attributed the increase to many building permits for new construction, remodeling and additions, even as several multimillion-dollar homes were demolished in Old Black Point and the $1.75 million Brown & Brown Insurance building became tax exempt upon purchase by the Light House vocational education center.

The $203.4 million motor vehicle grand list is down $12.1 million, or 5.65%. Personal property, valued at $81.8 million, is up $4.2 million, or 5.53%. The assessor pointed to equipment from the Interstate 95 construction project and the construction or upgrades of multiple gas stations as factors driving the increase.

The town’s top 10 taxpayers:

1. Connecticut Light & Power: $35.2 million.

2. Sound Apartment Ventures: $29.1 million.

3. Cove Apartment Ventures: $18.5 millon.

4. GDEL Commercial (Costco): $13.8 million.

5. L&L East Lyme LLC (grocery and strip stores): $10.2 million.

6. KRE-BSL Husky Niantic (assisted living): $7.7 million.

7. Mitchell Trust LLC (various developments), $7.2 million.

8. Flanders Plaza Assoc. (grocery and strip stores), $6.6 million.

9. Evans, Hugh D & Saskia (various Old Black Point properties), $5.9 million.

10. Yankee Gas, $4.9 million.