By Lisa Capobianco
Southington’s 2013 Grand List has increased overall by 1.13 percent to $3,773,777,166, according to the town’s Department of Assessors.
The Grand List, which comes out every year, measures the net assessment for property in the community in three areas, including real estate, motor vehicle and personal property. In 2012, the Net Grand List in Southington was $3,731,644,512. For 2013, Southington saw an increase in all three areas–real estate, personal property and motor vehicles.
“It seems to be pretty good growth,” said Town Assessor Brian Lastra, adding that the amount of taxable property in Southington the year before had an overall increase of .45. “We’re happy we saw an increase this year.”
“We were hoping it would be over 1 percent,” added Southington Town Manager Garry Brumback. “This is an encouraging sign, but we still have a lot more work to do.”
Driven primarily by new vehicle purchases, the net assessment of motor vehicles increased by $11,502,208 to $353,255,324 or 3.37 percent.
“It appears that people are starting to reinvest in their vehicles,” said Brumback, adding that more constructions in homes may also play a role in the increase of motor vehicles, as more residents move into Southington.
The net assessment of personal property increased by $2,286,672 to $175,888,086 or 1.32 percent. Reported as the top two taxpayers of Southington, Connecticut Light & Power and Yankee Gas Services have continued to make new investments in their transmission and distribution infrastructure, according to the Grand List report. There is also a major investment with respect to new tenant “fit ups,” primarily in the retail areas that have also affected the increase.
The net assessment of real estate increased by $28.343,774 million or 0.88 percent, to $3,244,633,756. The Department of Assessors reports this increase is primarily due to new home construction, since more than 80 homes underwent construction during the last year. Commercially, the new bath house and wave pool at Lake Compounce as wells as the completion of the new medical office building on West Street have also contributed to the increase. Besides new construction, Planning and Zoning approvals of new commercial development and residential subdivisions also brought an increase in value.
“It is broad-based,” said Brumback, adding that the real estate taxable value is diverse in Southington. “We are committed to an aggressive economic development program.”