Town Hall announces Oct 1, 2008 grand list

Earlier today, the Council got this from Town Hall:

Town Manager Michael A. Milone announced that the net Grand List for October 1, 2008 is $2,821,979,070 which is an increase of $291,419,744 or 11.52% over the October 1, 2007 Grand List.

The growth in the net Grand List is reflected in the following components: Real Estate grew by $293,191,904 or 13.18%, Personal Property increased by $7,359,757143 or 7.21% and Motor Vehicles decreased by $9,131,917 or 4.47%.

The current Real Estate Grand List is the result of the State-mandated Property Revaluation. The Town of Cheshire hired Total Valuation Services LLC. to assist the Assessor’s Office in performing this Revaluation. All assessments are based on 70% of market value as of October 1, 2008.

It should be noted that there is an additional $35,321,978 in personal property and vehicles, an increase of $5,866,977 over last year, that is identified, but not added to the Grand List, because it is exempted under a State Statute which provides property tax exemptions for manufacturing machinery and equipment and heavy duty trucks. However, the State provides a PILOT (payment in lieu of taxes) to compensate municipalities for a majority of this tax loss.

Property owners wishing to appeal their 2008 Grand List real estate, business personal property assessment, or their 2007 supplemental motor vehicle assessment before the Board of Assessment Appeals must submit a written application to the Board on or before February 20, 2009. These forms are currently available on www.cheshirect.org and from the Assessor’s Office in the Town Hall at 84 S Main St. By state statute, an appeal can be heard only if the written request has been submitted on the prescribed form to the Cheshire Board of Assessment Appeals by February 20, 2009.

For more information on the assessment appeals process, the public should contact the Assessor’s Office at 271-6620.

Tim White