The town's grand list, or total list of taxable property, grew by less than 1 percent in 2012. Overall, the town saw an increase of $28.54 million in total taxable property, thanks mainly to a sizable increase in personal property brought about mainly by upgrades and renovations Connecticut Light & Power made on equipment it owns in town.
Manchester's total taxable property in 2012 was $3,916,215,474, an increase of $28,543,890 or 0.73 percent over the previous year.
Real estate, which makes up 84.42 percent of the total grand list, decreased by 0.20 percent to $3,306,146,224, due largely to assessment appeals filed by property owners after the town revalued property in 2011. According to Director of Assessment and Collection John Rainaldi, Manchester had 98 owners who appealed their 2011 revaluation, and have roughly settled about 60 of those. Rainaldi said that it can take from one to three years to finalize the appeals process once a property owner challenges an assessment in court.
Motor vehicles, which makes up 8.32 percent of the grand list, increased by 0.22 percent to $325,803,260, because used cars have accelerated in their rate of depreciation. In 2011, motor vehicles increased by 6.47 percent.
Personal property, which makes up 7.26 percent of the grand list, increased by 13.77 percent to $284,265,990, due mainly to a $20 million increase in personal property added by Connecticut Light & Power in town. Rainaldi said that CL&P's increase made up about 60 percent of the overall increase in personal property in 2012; personal property increased by 3.43 percent in 2011.
Despite the relatively modest increase in taxable property in 2012, General Manager Scott Shanley said that he was pleased to see the grand list grow after several years of decline.
"I wouldn't say it's no growth. We have a very modest growth, but remember we're growing a nearly $4 billion grand list, so it takes a lot of millions of dollars to move that needle," Shanley said. "I am pleased to see that growth is occurring."
Manchester’s Top Ten Taxpayers for the 2011 grand list were as follows:
1. Pavilions at Buckland Hills (Buckland Hills Mall) $114,159,270
2. CT Light and Power Co. (Utility) $90,019,130
3. JC Penney Properties (Retail/Warehouse) $69,480,960
4. Northland Pavilions (Apartment Complex) $57,008,860
5. Manchester & Buckland Developers (Apartments) $39,351,920
6. Manchester Tolland Development Co. (Apartments) $26,058,610
7. Gateway Lauren (Shopping Center) $24,334,420
8. TGM Waterford (Apartment) $22,194,000
9. Walmart/Sam's Club (Retail) $21,641,450
10. Plaza at Buckland Hills (Shopping Center) $21,048,420