CHESTER – The grand list of taxable property increase 1.9 percent this year.
Total net assessment for 2006 was $423,358,881 compared with net assessment for 2005 which was $415,247,902.
Much of the increase was a result of a 1.7 percent increase in real estate tax and a 1.2 percent increase in personal property tax.
Tax Assessor Pat Stevenson said this will mean an estimated revenue increase of $177,000 based on last year’s tax rate of 22.37 mills, a mill rate equal to $22.37 for each $1,000 in assessed property value.
The increase in real estate, according to Stevenson, is a direct result of two new developments in town.
While a new 19-lot subdivision is under construction on a new road named “Pinnacle Lane” located off Hoop Pole Hill Road, a new 55 plus development is also being built on Cross Road, Stevenson said.
In 2006, there were 1,808 real estate accounts generating a total net assessment of $379,040,513 while in 2005, the town’s 1,797 real estate accounts generated a total net assessment of $367,654,559.
There were 433 personal property accounts in 2006 generating a total net assessment of $17,313,300 compared to 2005 where 369 personal property accounts generated a total net assessment of $15,433,065.
Motor vehicle tax decreased by 1.9 percent this year, the only of the three categories to experience a decrease.
The last decrease for this category occurred in 2003.
Stevenson said the decrease could be a sign of a slowed economy and that it “is pretty prevalent throughout the state, a lot of cities and towns saw this decrease.”
“Maybe people just don’t want to buy new cars,” Stevenson said.
There were 4,115 motor vehicle accounts in 2006 generating a total net assessment of $27,005,068 while in 2005; the town’s 4,100 motor vehicle accounts generated a total net assessment of $27,528,985.
The top 10 taxpayers in Chester in 2006 included Chester Woods, Inc. at $15,279,740, Connecticut Water Company at $5,761,400, Whalen Engineering Company, Inc., at $4,930,930, The Eastern Company at $3,622,140, Connecticut Light and Power Company at $3,196,710, Roto Frank of America, Inc., at $3,181,320, Quantum 318, LLC, at $2,862,000, Whelen Aviation, LLC, at $2,627,600, Robert and Margaret Sbriglio at $2,278,600, and ASW, LLC, at $2,084,810.
Assessed values of the top 10 taxpayers in Chester totaled to $45,825,250.
Most of the top 10 taxpayers in 2006 also made the list in 2005.
Exceptions include Connecticut Light and Power which moved from number six to number five, Roto Frank of America Inc. which moved from number five to number six.
Judith B. and Arthur Schaller Senior who held the spot as the number 10 taxpayer in 2005 was replaced in 2006 by ASW, LLC.
In 2005, assessed values of the top ten taxpayers in Chester was $45,854,720, slightly larger than in 2006.