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    Local News
    Wednesday, April 17, 2024

    Norwich grand list up 33% after property revaluation

    Norwich ― The revaluation of city property values led to an overall 33.78% increase in the city grand list of taxable property, including a 44% rise in real estate values.

    Residents were shocked in December when they received letters listing the new values on their homes. Residential real estate values saw a 62% increase in value, with commercial apartment building values up by 34%.

    Overall, the city’s grand list rose by $721.8 million as of Oct. 1, 2023, to a total of $2.85 billion. Real estate rose by $85.2 million to $2.4 billion.

    Motor vehicle values dropped 6.9% to a total of $263.9 million. Personal property values dropped by 5.9%. More than 700 residents have sought informal hearings to challenge their new values.

    The city’s top 10 taxpayers:

    1.Computer Sciences Corp., $27.1 million.

    2.KG Norwich (Norwichtown Commons shopping plaza), $20.3 million.

    3.Bob’s (CT) QRS, 16-25, Inc. (Bob’s Discount Furniture distribution center), $16.2 million.

    4.Hills LLC (Hills at Riverview apartment complex), $13.7 million.

    5.Connecticut Light & Power, $13.6 million.

    6.Elk Thamesview LLC, (apartment complex), $13.5 million.

    7.US Foods, Inc. (distribution center), $11.9 million.

    8.Norwich Realty Associates LLC (Marcus Plaza shopping center), 11.2 million.

    9.Plaza Enterprises (shopping center), $11.1 million.

    10.Nordson EFD LLC (manufacturing plant), $10.8 million.

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