City’s latest Grand List shows 1.6% hike

Bristol saw slightly over a 1.6 percent increase in its 2013 Grand List, which measures the annual net assessment for property in the town in real estate, motor vehicles, and personal property. The 2013 Net Grand List of taxable property increased by $62,536,969 from the 2012 Grand List, to $3,835,714,022.
All categories in the Grand List increased in 2013. Real Estate increased by a little over $28.1 million over 2012, or nearly 1 percent, to $3,201,132,622. Personal Property saw the largest increase at a little over $28.1 million, or an 11.7 percent increase, to $268,292,430. Motor vehicle jumped by $6,215,889 or a 1.7 percent increase to $366,288,970.
City Assessor Tom DeNoto said even though the Grand List increased, this does not mean the resident’s taxes will decrease since the city still needs to go through its budget process. He said if the current mill rate is applied to the net increase of a little over $62.5 million, the city would see a little over $2 million in found revenue.
The 11.7 percent increase in personal property he said shows him the manufacturing sector in town “is very strong,” especially since they have a large  impact on the city’s tax base. ESPN helps a lot with that as well, as it brought in about $36 million in new revenue in 2013— thanks in part to its new digital center and other equipment.
Overall in Bristol, DeNoto said the increases in the Grand List and its categories are “staggering,” but he said the fact that ESPN contributed such a large increase “is fantastic.”
“Bristol is poised very well,” DeNoto said, adding that the city has a “modest, effective tax rate” of 2.3 percent. He said with all of the services the city offers, the public schools, and more shows that living in Bristol provides “a great bang for your buck.”
Taxpayers who want to appeal their new assessments have until Thursday, Feb. 20, to file with the city’s assessor’s office to request a hearing with the Board of Assessment Appeals. Applications are available at the Assessors Office at 111 North Main St., on the first floor of City Hall, or online at www.

 Bristol’s Top Ten Assessments
Taxpayer   Total Assessment   % of Grand List
ESPN   $220,803,470   5.76%
Covanta Bristol  $45,987,670   1.20%
Connecticut Light & Power Co.  $42,183,060   1.10%
Bristol Center LLC.   $32,758,530   0.85%
Federal Realty Investment Trust $22,149,430   0.58%
Winstanley Enterprises  $21,738,710   0.57%
Carpenter Realty Company $20,559,972    0.54%
Festival Fun Parks  $15,578,480   0.41%
Huntington Wood Limited Ptshp.  $15,028,250   0.39%
Elk Bristol Annex LLC        $13,892,620   0.36%