The Town of Fairfield’s Net Grand List assessment, based on valuations as of October 1, 2014, certified January 30, 2015, and preliminary to Board of Assessment Appeals hearings, is $10,984,012,745, an increase of $70,501,592, or 0.65 percent over the 2013 net list of $10,913,511,153 as adjusted by the Board of Assessment Appeals effective March 31, 2014.
Real Estate increased a net of $54,720,892 or 0.54% percent over the 2013 Net Real Estate Grand List as adjusted by the Board of Assessment Appeals. The increase is due mainly to the completion of a variety of new commercial and residential buildings, additions, and alterations, with much of the new residential construction occurring in the Town’s coastal area. This year’s increase is indicative of Fairfield’s continuing progress in recovery from Storm Sandy’s negative economic impact. As a percentage of the Gross Real Estate List, residential property comprises 89 percent, commercial and public utility properties comprise 10 percent, and industrial properties comprise 1 percent.
Motor Vehicle assessments increased by a net of $9,247,030 or 1.90 percent. While the 2014 vehicle count of 47,850 is little changed from last year’s final total of 47,495 (after Board of Appeals), the increase in assessments is consistent with increases experienced by other Connecticut municipalities. This increase may be attributable to the strong purchasing activity of new and late model pre-owned vehicles during 2014, which is indicative of stronger local and national economies.
Personal Property, the furniture, fixtures, machinery and equipment owned by commercial enterprises, increased by a net of $6,533,670 or 2.4 percent. The increase is due primarily to equipment acquisitions by General Electric, Southern Connecticut Gas, and United Illuminating, as well as an increase in small business, store, and restaurant openings during the last year.
The 2014 Net Grand List Assessment referenced above is preliminary and subject to change by the Board of Assessment Appeals. The final 2014 Net Grand List Assessment is anticipated to be completed and published by early April 2015.
For more information, please contact
Tax Assessor Donald Ross at 203-256-3110 or email@example.com.