The Darien Times

Up 0.75%: Grand list rises to $8.86 billion

Written by Susan Shultz
Monday, February 13, 2012 08:11 AM

In 2010, the net grand list, which is a 70% value of the Darienites' assessed real estate, motor vehicles and personal property was valued at $8,796,876,533. The most recent valuation came in at $8,863,212,891, up $66,336,358, or 0.75% for 2011. The list went up 0.48% from 2009 to 2010.

Increase to real estate came in at $46 million, up to $8,469,906,100.

Homicki cited "a combination of both residential and commercial improvements" happening in town as the reason for the real estate increase.

"Building permits were active throughout the 2011 calendar year, with this office inspecting over 450 parcels that had physical changes or a turnover of commercial tenants," he said.

Taxpayers are entitled to appeal their assessments and must file an application by Feb. 20.

Darienites own an additional 58 motor vehicles from last year, increasing that list to a total of 17,773, with an average value of $18,730. That list has increased by $16,360,015, bringing it to a total of just over $233 million.

The most expensive motor vehicle in town is a Ferrari 599 GTO, valued at $280,000, followed by a Aston Martin V8 Vantage, valued at $195,300. Coming in third is another Ferrari, the 458 Spider, for $161,000.

Personal property accounts make up an assessed value of $160 million. The largest taxpayer in Darien is Connecticut Light & Power, with property valued at $86 million, including added physical underground utility upgrades between 2007 and 2009.

The town's country clubs continue to rate among the top valued real estate parcels in town. Topping the list is Wee Burn Country Club, 410 Hollow Tree Ridge Road, at $36,523,830, followed by Avalon at 137 Hollow Tree Ridge Road for $36,191,260. Next is the Country Club of Darien at 300 Mansfield Ave. for $32,258,450, and Woodway Country Club at 412 Hoyt Street for $24,175,060.

Rounding out the top five is the estate of Helen M. Rivoire at 6 Great Island Road for $22,249,220.

Weeburn, the Country Club of Darien and Woodway all appealed their 2008 assessments that resulted from the five-year annual revaluation performed by the tax assessor. The state mandates that each town's assessment office perform reevaluations on all real estate every five years. The assessed value is defined as 70% of the actual value.

Weeburn and the Country Club of Darien settled in January 2011 after the town lowered their combined reevaluations by $25 million.

In exchange, the clubs promised to retain their open space for the next 30 years, and made a 40-year agreement to give the town first right of refusal to buy club properties.

Woodway's 2008 appeal remains in process.

The Oct. 1, 2008, revaluation fell around that fall's Wall Street and real estate crashes causing many property owners in town to contest their assessments by the time they were released months later.

"Having implemented this Oct. 1 revaluation, it was probably the most challenging because the economy and the market changed significantly since Oct. 1," Homicki said at the time the evaluations were released in spring 2009.

The town is due for another revaluation in the fall of 2013.

The grand list represents a revenue stream for the town and schools, which are in the process of setting their 2012-13 budgets, which are usually finalized by the Representative Town Meeting in May and go into effect on July 1.

sshultz@darientimes.com

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