The Town of Fairfield's 2012 Grand List increased by $42.1 million -- or .39 percent -- over the 2011 list as adjusted by the Board of Assessment Appeals, Tax Assessor Donald Ross announced Friday.
The net Grand List assessment for 2012, based in valuations as of Oct. 1, 2012 and certified on Jan. 31, 2013, is $10,899,406,301, up from 2011's total of $10,857,288,637.
Real estate in Fairfield increased a net total of $26,777,810 -- .26 percent -- over the 2011 net Grand List. The increase is mainly due to the completion of the new Kings Crossing Shopping Center at Grasmere Avenue and Kings Highway; the completion of new residential dwellings, additions, and alterations; and the status change of the former main post office property at 1262 Post Road from tax exempt to taxable, Ross said.
Residential property comprises 88.6 percent of the Gross Real Estate List, commercial and public utility properties make up 10.4 percent, and industrial properties account for 1 percent.
Motor vehicle assessments decreased by a net of $3.8 million, or .81 percent. The total vehicle count in town (47,583) changed little from 2011's, but the decrease of assessments is consistent with decreases experienced by other Connecticut municipalities, Ross said.
"This decrease may be attributable to normal depreciation and replacement of more expensive vehicles with vehicles of lesser value," Ross said.
Personal property, furniture, fixtures, machinery, and equipment owned by commercial enterprises, increased by a net of $19.2 million, or 7.9 percent, over the 2011 Grand List. Equipment acquisitions by General Electric, Southern Connecticut Gas, and United Illuminating account for most the increase.
The current Grand List totals are:Assessment 2012 % of List Real Estate $10,160,743,088 93.2% Motor Vehicles $476,574,963 4.37% Personal Property $262,088,250 2.4% Total $10,899,406,301
The Grand List will be used for fiscal year 2013-2014 town budget calculations. The above figures are subject to change pending the outcome of Board of Assessment Appeals hearings in March for appeals filed by Feb. 20, 2013.
The following are the Top 10 taxpayers in Fairfield:Rank Name Nature of Business Taxable Valuation % of Net Grand List 1 General Electric Company Corporate Headquarters $74,039,200 0.68% 2 Kleban Holding Co et als Real Estate Developer $73,999,044 0.68% 3 Conn Light & Power Co Public Utility $60,582,830 0.56% 4 Lenoci Alfred etals Real Estate Developer $56,891,593 0.52% 5 Aquarion Water Co Water Utility $54,743,450 0.50% 6 United Illuminating Co Public Utility $30,178,870 0.28% 7 Roberts et als Properties Real Estate Developer $26,762,896 0.25% 8 Jack, Bradley & Karin Residential Homeowner $24,453,790 0.22% 9 Scinto, Robert etals Real Estate Developer $23,129,680 0.21% 10 Trust Realty et als Real Estate Developer $21,175,070 0.19% TOTAL $445,956,423
[Editor's note: Attached to this article is a pie chart that breaks out the component parts of the Grand List, provided by the tax assessor.]