Stratford Grand List Grows By $78 Million

STRATFORD, CT — Stratford’s grand list for Oct. 1, 2020 saw a 1.21 percent increase, or $78.6 million, over the previous year, officials announced.

The grand list, which was signed on Jan. 29, is the total of all net taxable assessments of motor vehicles, personal property and real estate in Stratford. Motor vehicles and personal property are valued annually, while real estate is valued as of Stratford’s Oct. 1, 2019 revaluation.

If real estate was improved since the last revaluation, the value is adjusted by the Tax Assessor after inspection, according to officials.

Stratford’s total net Grand List of Oct. 1, 2020, is $4,847,711,870. The 2020 net Grand List totals are shown below:

The mayor’s office released the following explanations of the change in value for each category:

The Real Estate Grand List increased by 0.68 percent, or $27,676,280. Though commercial real estate building permit activity was lower due to the COVID-19 pandemic, there were still some commercial projects that began, continued, or were completed in 2020 such as 225 Lordship Boulevard, 100 East Main Street, 835 Barnum Ave Cut-off, and 771 Barnum Ave Cut-off to name a few.

Residential building permit activity was brisk in 2020, as many people invested in their homes. Approximately 1,500 building permits were inspected by the Tax Assessor’s Office. In some cases homeowners altered their homes to accommodate their transition to work from home; while others took advantage of the low interest environment to accelerate completion of home improvements projects.

The Motor Vehicle Grand List also increased in value by $19,830,688, or 5.49 percent despite having a decrease of 1,686 vehicles on the List. This is a trend seen around the state this year. Sale prices of new cars picked up in the summer of 2020 due to limited supply; while the book values for used cars, trucks, and SUV’s increased in many categories also due to consumer demand.

The Personal Property Grand List increased the most by $46,921,030 or 8.01 percent. There also was a decrease of 92 businesses. Unfortunately, there is no way to determine if the decrease was COVID-19 related at this time. Concurrently, Stratford also had an increase of 145 businesses during the same period – including Amazon Services Inc., Fairfield County Health Care Associates and Nutmeg State Financial Credit Union.

The Oct. 1, 2020 Grand List is used to develop the Fiscal Year 2021-2022 Town of Stratford budget. The Board of Assessment Appeals issues a final disposition on property values after hearings beginning in March. The 2020 Grand List corresponds to the tax bills that will be payable beginning July 2021.

Top 10 Business Taxpayers:

The top 10 business taxpayers listed below are those with the most recorded personal property in Stratford for the Grand List of Oct. 1, 2020:

Names / Net Assessment

1. LOCKHEED MARTIN COMPANY – $164,977,670

2. UNITED ILLUMINATING COMPANY – $147,744,380

3. SOUTHERN CONN GAS COMPANY – $41,317,790

4. APTAR GROUP INC DBA – $15,304,880

5. AQUARION WATER COMPANY OF CT – $13,038,370

6. TWO ROADS BREWING COMPANY LLC – $11,263,660

7. ASHCROFT INC – $11,235,430

8. CO GENERATION INTERCONNECT – $9,419,330

9. HP FINANCIAL SERVICES – $8,087,960

10. BRIDGEPORT FITTINGS LLC – $7,863,640