Date: Fri 09-Feb-1996

Publication: Bee

Author: KAAREN

Quick Words:

grand-list-taxes-assessor

Full Text:

Grant List Surges

B Y K AAREN V ALENTA

The grand list is up, but town officials aren't sure how much is due to an

increase in taxable property in Newtown and how much is due to property

revaluation.

Tax Assessor Mark DeVestern said the 1995 grand list jumped by 39.24 percent

over the previous year, but much of this is because of the recently completed

revaluation of all taxable property in town.

"About 200 new homes were built so we know there was a real increase in the

grand list, but it is too time consuming - with everything else my department

has to do right now - to try to separate out this growth from that caused by

revaluation," he said.

The total for the 1995 grand list was $1,488,586,447, compared to

$1,069,065,190 last year. The grand list includes all taxable property in

town: real estate, motor vehicles and personal property such as industrial

equipment.

The revaluation, which is done every 10 years, recently boosted property

assessments to market values as of October 1, 1995. The average residential

assessment increased by approximately 40 percent as a result of the

revaluation.

In 1994, when 156 new homes were built, the grand list jumped by 3.96 percent.

It also increased by 3.96 percent in 1993 when 171 homes were built.

Real estate property now totals $1,391,724,176; motor vehicles, $112,528,319;

personal property, $56,333,952. Last year the totals were $918,001,805 for

real estate, $99,758,030 for motor vehicles, and $51,305,355 for personal

property.

Each year town officials await the results of the grand list and pair it with

the annual audit to measure the financial strength of the town. Several weeks

ago the results of the audit of the 1994-95 fiscal year, which ended June 30,

1995, were announced and showed a surplus of nearly $2 million, an increase of

32 percent over the previous year. The surplus will be available for use in

the 1996-97 budget.

Mr DeVestern said property owners soon will receive a final notice of

increased assessments as required by state law. Any property owner who objects

to the assessment may request a hearing with the Board of Assessment Appeals.

Requests for these hearings must be made, in writing, to the board and

postmarked by February 20. Forms for this purpose are available in the tax

assessor's office in Edmond Town Hall.

Mr DeVestern said property owners may pick up the form at his office or send a

letter to the Tax Assessor's Office, Edmond Town Hall, 45 Main Street, Newtown

06470, requesting the form. The notice must be returned by February 20 to

receive an appointment with the board.