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WEST HAVEN, Feb. 5, 2020 — The city’s grand list of taxable property has grown by nearly $36 million, or just over 1%, for fiscal year 2019, Mayor Nancy R. Rossi announced.
The net grand list is now more than $2.7 billion, said Rossi, adding that the grand list also grew by more than 1% in fiscal 2018.
“The grand list growth, specifically in the commercial area, is critical to stabilizing our tax mill rate as we move forward,” Rossi said. “Although the grand list growth is relatively small as a percentage, it will generate about $1.3 million in new revenue for the fiscal year 2021 budget cycle, which begins on July 1, 2020.”
Rossi noted that growth occurred in all three taxation districts. The 1st District (Center) grand list assessments increased by about $2 million and the 2nd District (West Shore) by $13.9 million. The 3rd District (Allingtown) saw the largest increase at $20.1 million.
Real estate had the largest growth in the 2019 grand list, with an increase of $15.3 million citywide. Personal property increased by $10.9 million and motor vehicles by $9.8 million.
The real estate growth included the Yale New Haven Health distribution center project on Route 34 in Allingtown, the continued revitalization of the Allingtown Center, and new and expanded business activity throughout the city.
“The continued growth in the city of West Haven’s grand list is encouraging,” Rossi said. “We have worked hard to show investors that we are fiscally accountable and serious about economic development.
“We will continue to aggressively market the city to attract new investment and business. We have put the city in a good position to create more commercial opportunities moving forward.”
The mayor continued: “Grand list growth is essential and will generate much-needed revenue from commercial investments and help stabilize our tax rate for our residents. There is much more work to be done, but seeing the grand list continue to grow is a positive indicator and will build momentum for our future success.
“As we begin the budget process, the increase in the grand list is vital to reducing and hopefully mitigating the tax increase suggested by the state Municipal Accountability Review Board for fiscal year 2021.”
“We continue to move in the right direction,” Rossi said.