Town of East Hartford Experiences Substantial Grand List Growth
(February 3, 2016) East Hartford, CT –Mayor Marcia A. Leclerc is proud to announce that the grand list, ending October 1, 2015 saw a total net increase of $46,568,118 and a percentage increase of 1.73 percent from $2,689,464,641 in Tax Year 2014 to $2,736,032,759 in Tax Year 2015. The grand list growth seen this year is an unprecedented number in a non-revaluation year, not seen in nearly a decade. The increase in the grand list will produce approximately $1.5 million in new revenue.
Mayor Leclerc was encouraged by the substantial growth and saw it as a sign of heightened attractiveness for business owners and property owners, leading to increased investments in the community.
“East Hartford is a town on the rise,” Mayor Leclerc said. “These numbers reflect that the hard work our community has been doing, to encourage businesses to set up shop in East Hartford, has been paying off.”
The town saw a .98% increase in real estate taxes garnering $21,481,887 in additional assesment, a 9.99% increase in personal property taxes garnering $23,673,790 in additional assessment, and a .54% increase in motor vehicle assesment resulting in $1,412,441 in additional assesment.
The major driver to the increase in real estate assessments was the expiration of the tax abatement exemption for Cabela’s, which had previously received a seven-year 100 percent real estate assessment abatement, ending this past year. The major spike in personal property assessments was a result of several businesses in town upgrading their facilities and equipment, including: LD Kichler ($1.2M), Bank of America ($1.3M), Eversource Energy ($1.4M), Cellco ($1.5M), Adaptive Optics ($2.1M), United Technologies Corporation ($3M), Computer Sciences ($3.3M), Talmer Bank ($4.4M), Nixon Uniform ($4.6M), and Dunn Paper ($5.3M).
East Hartford, at a 1.73 percent growth rate, experienced one of the largest grand list growths amongst towns in non-revaluation years. The town ranked 4th out of those 26 towns across Connecticut, with only New London, Windsor and Cromwell ahead of East Hartford.
For more information on the October 2015 grand list numbers or the October 2014 grand list numbers, please contact the Assessor’s Department at 860-291-7260.