Why did Killingly's grand list increase 26% from 2022 to 2023? Who are the biggest taxpayers?

Connor Linskey, Norwich Bulletin
5 min read
0

The Town of Killingly’s grand list increased by more than 26 percent from 2022 to 2023.

The 2023 net grand list totaled $2,169,884,639, up from the 2022 net grand list total of $1,717,065,355.

Real estate increased substantially from the 2022 to 2023 grand lists. Its valuation increased from $1,335,847,519 to $1,793,794,376, or 34.28 percent.

Personal property and motor vehicle values both decreased from the 2022 to the 2023 grand list.

Personal property was valued at $294,333,228 in the 2022 grand list and at $293,201,568 in the 2023 grand list. This equates to a 0.38% decrease.

Motor vehicle valuation fell from $176,510,690 in the 2022 grand list to $169,698,823 in the 2023 grand list.

The Killingly Town Hall on Main Street in Danielson
The Killingly Town Hall on Main Street in Danielson

PILOT agreement expiration changes the town's valuation list

The 2022 grand list figures differ from the story published last year in The Bulletin, as those numbers did not include the valuation of the Lake Road Generating Power Plant, which had a net assessed value of $280,000,000 for the 2022 grand list. In years prior to the 2022 grand list, the plant paid in accordance to a payment in lieu of taxes (PILOT) agreement. The agreement expired and the town had to negotiate with the company on a new long-term agreement.

While under the PILOT the plant value was added to the grand list and then exempted off the list.

"Since the PILOT has expired the exemption is no longer applicable and therefore the grand list reflects the appraised value of the plant," Killingly Town Manager Mary Calorio said in an email in March 2023. "It wouldn't be appropriate to just compare last year's grand list to this year's grand list due to this change."

Here are Killingly’s top 10 taxpayers.

Lake Road Generating Company LLC

  • $238,314,683 assessed value, $238,297,413 real estate, $17,270 motor vehicle.

This is the power plant on Lake Road owned by Dynegy Energy, which is a subsidiary of Vistra Energy.

Connecticut Light and Power Co.

  • $59,844,950 assessed value, all personal property.

While it is listed as Connecticut Light and Power, Eversource Energy owns utilities assets in the town. However, there are other Connecticut Light and Power related listings under different names. Motor vehicles are listed as Connecticut Light and Power Company, assessed at $886,360, and $3,248,940 more in personal property listed as Connecticut Light and Power Company Co Gen-L.

Dynegy Resources II LLC (owner of Lake Road Generating Company LLC)

  • $41,702,588 assessed value, all personal property.

Dynegy is a subsidiary of Vistra Energy, based in Irving, Texas. This company owns the currently standing power plant in Killingly, operating since 2002.

Frito Lay Inc.

  • $40,384,620, $16,316,760 real estate and $24,067,860 personal property.

The Pepsico-owned company known for numerous chip brands, from its eponymous ones, to Doritos, Cheetos, and more, has a manufacturing facility in Killingly. The company owns three properties in Killingly at 107 Atta Crossing, 1886 Upper Maple Street and 628 Wildwood Way. The Atta Crossing location is a garage with a 16,000 square foot gross living area. The buildings at Upper Maple Street include the plant itself. The nine buildings have a total gross area of 454,940 square feet. The Wildwood Way property is vacant land.

Dayville Property Development LLC

  • $34,389,620, all real estate.

This company owns multiple commercial properties at or around the Killingly Commons. They include 581 and 592 Hartford Pike and 1049 and 1150 Killingly Commons Drive. The total square foot gross living area for these 10 buildings is 355,752. The company also owns land at 624 Hartford Pike and 66 Railroad Avenue.

Rim Properties 1 LLC

  • $14,031,170, all real estate.

This company owns the Walgreens distribution center located at 500 Forbes Road in Dayville. The distribution center is set to close on May 17.

The Connecticut Water Co.

  • $10,999,240, all personal property.

The Connecticut Water Company is a public water utility that serves more than 107,000 customers in 60 Connecticut towns, including Killingly. The company also provides wastewater services to 3,000 customers in the town of Southbury, Connecticut.

Yankee Gas Services Co.

  • $10,644,910 total, $1,052,630 real estate, $9,024,620 personal property and $567,660 motor vehicle.

A natural gas company owned by Eversource.

LCN STP Hagerstown (Multi) LLC

  • $10,322,990, all real estate.

The building on 155 Tracy Road was a Staples Distribution Center, with a 307,955 square foot gross living area. It also owns vacant land at 39 Tracy Road.

Alexander’s Lake Conservation & Rentals LLC

  • $9,958,220, all real estate.

This company owns land around Alexander’s Lake, as well as several buildings there.

Two companies added to top 10

Rim Properties 1 LLC and Alexander's Lake Conservation & Rentals LLC were among the top 10 taxpayers in 2023. In 2022, Alexander's Lake Conservation & Rentals LLC ranked 13th among the top taxpayers in the town. Rim Properties 1 LLC was not among the top taxpayers in Killingly prior to their purchase of the Walgreens distribution center in April 2023.

Rim Properties 1 LLC purchased the distribution center from PJC Realty Co. Inc., who was the town's seventh-highest taxpayer in 2022. Target Corporation was the town's 10th-highest taxpayer in 2022 and paid $8.262 million in real estate taxes on the Target store located at 2177 Killingly Commons Drive.

This article originally appeared on The Bulletin: Top taxpayers in Killingly CT: 2023 grand list increased 26% over 2022

Advertisement

Recommended Stories

  • Thousands Of U.S. Homes Foreclosed In April As Market Shows Mixed Recovery Signs

    April saw a surge in home foreclosures, with thousands of properties repossessed nationwide.Last month saw an 8% increase in repossessions from the previous month, totaling over 2,900, despite a year-over-year decrease in foreclosure filings. States like Illinois, Pennsylvania, and California led with the highest numbers of completed foreclosures, highlighting regional disparities in economic recovery and housing stability. According to foreclosure data tracked by ATTOM, Illinois led the states

  • Losses Pile Up in Top-Rated Bonds Backed by Commercial Real Estate Debt

    (Bloomberg) -- For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses.Most Read from BloombergNvidia Stock Surges as Sales Forecast Delivers on AI HopesHarvard Students Walk Out of Commencement Protesting SuspensionsCiti Trader Got 711 Warning Messages Before Sparking Flash CrashThese Flight Routes Suffer the World’s Worst TurbulenceIsrael to Restart Gaza Talks After Hostage Video Sparks OutrageBuyers of the A

  • US new home sales fall in April; prices rise from year ago

    Sales of new U.S. single-family homes fell more than expected in April amid a resurgence in mortgage rates and higher prices, further evidence that the housing market was losing momentum in the second quarter. New home sales dropped 4.7% to a seasonally adjusted annual rate of 634,000 units last month, the Commerce Department's Census Bureau said on Thursday. The sales pace for March was revised lower to 665,000 units from the previously reported 693,000 units.

  • What is the best time of year to buy a house?

    The best time of year to buy a house depends on your situation, but some pros and cons come with buying in each season and even each month of the year.

  • Nvidia Crushed It Again but These Risks Could Halt the Rally, and 5 Other Things to Know Before the Market Opens.

    Fed officials on rate cuts, stalling home sales, Anglo American warms to BHP deal and other news to start your day.

  • Housing Affordability Challenges Persist, Yet Buyer's Market Flourishes In Texas And Florida

    Amid rising mortgage rates and general unaffordability nationwide, cities in Florida and Texas are emerging as havens for homebuyers.While the broader U.S. housing market continues to favor sellers with high prices and tight inventory, specific metro areas in the South are bucking the trend, according to a Zillow market heat index.In Florida, Jacksonville, Orlando, Tampa, and Miami are classified as buyer's markets, indicating a shift toward conditions favoring buyers over sellers. Jacksonville

  • April New-Home Sales Drop Amid Elevated Mortgage Rates; Prices Dip

    April New-Home Sales Drop Amid Elevated Mortgage Rates; Prices Dip

  • First-time homebuyers aren't buying until mortgage rates drop. It could be a long wait.

    Both first-time homebuyers and current owners say they are waiting out high mortgage rates. But when, exactly, are rates going to come down?

  • America Will Be A 'Nation Of Renters' As Prices Soar Beyond Wages Under Biden's Watch, Says Grant Cardone

    Under the Biden administration, the gap between U.S. wage increases and soaring rental costs has widened, with real estate mogul Grant Cardone attributing the disparity to current federal economic policies.While 1.2 million new apartments have been constructed across the nation since 2020, renters find little relief as rents have climbed 30% between 2019 and 2023, outpacing the approximately 20% growth in wages during the same period."American paychecks have grown since the pandemic, but those g

  • US home sales post second straight monthly drop; house prices accelerate

    U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. Though the report from the National Association of Realtors on Wednesday showed inventory increasing last month to a 2-1/2-year high entry-level homes remained scarce, accounting for the second straight monthly decline in sales. The housing market has taken a step back after residential investment, which includes homebuilding, grew at its fastest pace in more than three years in the first quarter amid a resurgence in mortgage rates.