Bristol’s 2019 grand list grew 1.36% or $53,769,358.
The total of net taxable property in the city is valued at $4,001,668,407. In 2018, the net grand list was $3,947,899,049.
The increase means that city revenue will rise 1.36% without the need for a tax increase.
“We are happy to see a significant bump in growth from the 2018 grand list increase. Our assessor’s staff went above and beyond pulling this grand list together,” said Mayor Ellen Zoppo-Sassu in a press release. “We are hoping that this trend continues as we plan for additional residential construction in the next year or so, as well as continue to aggressively market Bristol as a place to do business. Our economic development team has also been very successful in filling vacancies, and there is additional good news on that front coming in the next few months.”
Real estate saw an increase in value of $9.9 million or 0.31% from 2018 to 2019, and motor vehicle value saw an increase of $12.3 million or 3.22%.
“There are hundreds of 2020, 2019 and 2018 models on the tax rolls,” said City Assessor Tom DeNoto in a press release. “The Amazon distribution center in the 229 Technology Park also added 100 commercial delivery vehicles.”
The largest increase in value came in personal property, which covers industrial equipment such as conveyor belts and turbines as well as utility property such as telephone wires and poles as well as computers, fixtures and furniture used by businesses.
The value of this category increased $31.5 million or 10.02%.
“I think this grand list indicates a strong business climate and a quality workforce,” said DeNoto in the press release.
There was a shift in the Top 10 list. There wasn’t a significant change within the top five taxpayers with ESPN ($249,036,321) at the top spot followed by Eversource ($68,362,470), Covanta ($33,988,270), Bristol Center ($33,513,690), and Bristol Sports ($25,297,930).
Yankee Gas Service Co. went from the 10th spot to the seventh spot, with a current net assessment of $22,611,680. Festival Fun Parks/Lake Compounce had the seventh spot previously, and is now in the ninth spot with a net assessment of $20,138,800. D’Amato Construction/ Affiliated LLCs went from the ninth spot to the 10 with a net assessment of $19,287,483. Rounding out the top 10 at at 6, Federal Realty Investment Trust with $22,658,300 and number 8 is Carpenter Realty with an assessment of $20,879,560.
“To date, we are performing well in other revenue categories and the departments are doing a good job of managing their budget requests,” said Comptroller Diane Waldron in a press release.
The Board of Education has an operating budget of $115,040,860 from $112,038,565 in 2019.
The Board of Finance will be holding a series of budget workshops starting on Thursday, Feb. 27 at 6 p.m. in the City Hall council chambers, to create the city budget for July 1, 2020.
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