Newington grand list growth up

NEWINGTON — The town’s grand list of taxable property grew by $118.2 million, or 4.45% to a total of $2.775 billion in 2020, according to town officials.

The real estate portion of the list grew by $103 million, or 4.6%, to $2.366 billion.

The personal property portion of the list grew by $6.2 million, or 3.8%, to $169.6 million.

The motor vehicle portion grew by $8.3 million, or 3.5%, to $245.8 million.

Town assessor Steven Kosofsky said in a memo to the town council that the increase is primarily attributable to a significant increase in the registered motor vehicles andbusiness personal property sections of the grand list which increased $8,308,722 and $6,225,230 respectively.

According to Kosofsky, the increase in the real estate portion of list was dueto“revaluation assessment so fall real property in town which were updated to reflect fair market value as of October 1, 2020 from their previous basis of October 1, 2015,” he said in the memo. “Actual newgrowth in the Real Estate Grand List was only .20% as growth continues to be extremely sluggish due to the absence of any significant economic development projects for the third year in a row.”

Kosofsky said the gross personal property increase was actually only $2,260,920 or .83%. “However this amount was increased by the reduction in the non-reimbursable State Manufacturing Machinery and Equipment exemption of $5,370,590,” hesaid. Kosofsky said that although total number of motor vehicles being assessed was less than last year, down by almost 1,400, “the average assessment of the vehicles on the list this year increased from$8,324 to $8,964 to reflect the increase in the cost of newer vehicles.”

The top 10 list of taxpayers in Newington is: CL&P/Eversource $56.2 million

Mandell Properties $24.6 million, (minus a $15 million personal property exemption.)

IREIT Newington Fair $23.1 million

GKN Aerospace Newington LLC $22.3 million, (minus an $18 million personal property exemption.)

Hayes Kaufman Newington $22 million TLGNewington LLC$20.9 million

Brixmor GATurnpike Plaza LLC$20.1 million Newington VFLLC$20 million

Newington Gross LLC$19.5 million ED ACT echo logi es Corp $18.9 million ,( minus a $15 million personal property exemption.)