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The Grand List is the sum total of the net assessed value of all taxable property in town, including real estate, motor vehicles and personal property. The values were compiled by the office of Tax Assessor Al Garzi and is based on valuations as of Oct. 1, 2014. The growth in 2014 is a 0.0025 percent increase over the 2013 Grand List.
The Grand List will be used to calculate property taxes for the 2015-16 fiscal year. According to Garzi the growth in the 2014 Grand List will produce an increase in revenue of $307,616.
Real estate makes up the bulk of the Grand List, with 9,653 units totaling $4,367,442,925. This is an increase of $11,357,699 over the previous year. According to Garzi, the real estate increase was fueled by small multifamily and commercial developments, as well as remodeling and additions to existing residencies. A small number of new houses and the continuation of Boehringer Ingelheim’s major expansion also contributed to the growth.
The motor vehicle portion of the Grand List grew by $2,330,714 to $244,261,004. There were 21,471 cars in Ridgefield in 2014, an increase over the previous year. The average car value increased from $16,190 to $16,251.
The personal property portion decreased by $1,841,570 to $100,544,677, according to Garzi.
“This year’s increase for taxable personal property continues to be impacted negatively by recent legislation passed in 2011 reducing Ridgefield’s increase in new revenue. Business equipment utilized in manufacturing that was previously exempt and reimbursed by the state of Connecticut is now completely exempt and not reimbursed.”
There were 719 tax exempt properties totaling $483,742,397 in 2014. Machinery and bio-tech exemptions amount to about $75,000,000. Exemptions to veterans totaled $1,510,500. The exemptions totaled to a $12,582,139 loss in revenue, or 3.75 mills.
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