Coventry grand list rises with new construction

Tim Leininger, Journal Inquirer, Manchester, Conn.
·3 min read

Feb. 8—COVENTRY — The town's grand list of taxable property saw an increase of nearly $4 million, or 1.8%, largely from new construction projects, with a total value of $1,096,582,610.

TOP 10 ASSESSMENTS

Eversource: $29,243,410

Connecticut Water Co.: $6,087,370

White Mountain-Coventry LLC: $3,250,600

Chester Investment Trust LLC: $3,055,200

Coventry Meadowbrook Center LLC: $2,350,300

Teleflex-CT Devices Inc.: $2,124,030

Coventry Self Storage LLC: $1,982,640

Cumberland Farms Inc.: $1,883,990.00

Algonquin Gas Transmission LLC: $1,788,320

Earth Dynamics LLC: $1,359,460

"We have had a fair number of new construction, as well as quite a few renovations, additions, and garages," Town Assessor John Preisner said. "The newest subdivision, Windy Hill Road, is almost complete, with two dwellings on as partial construction, and two that started after Oct. 1, 2022. Otherwise there are other new starts scattered throughout town, and quite a few renovations around the lake."

Real estate property increased from $895,237,200 to $906,317,550, an increase of $11,080,250, or about 1.2%.

Motor vehicles increased as well, from $133,118,745 to $138,987,000, an increase of $5,868,255, or 4.4%.

"This corresponds to used car prices starting to come after the big increase associated with the pandemic and shortage of new cars," Preisner said. "This year we have more new cars offsetting the reduction in used car prices."

There was an almost $2.8 million, or 5.7% increase in personal property, from $48,496,700 to $51,278,060.

"With the new construction and road work in town, we do have some added construction equipment on the list this year that would normally be elsewhere," Preisner said. "This includes Spazzarini Construction that did work on the Swamp Road and Boston Turnpike intersection, and is currently doing some work around Nathan Hale School."

The top 10 assessments make up 4.8% of the town's tax revenue, with Eversource by far the highest taxpayer, paying $29,243,410, an increase of $696,430, or 2.4%.

Town Manager John Elsesser said that Coventry's numbers are similar to other towns in the area.

"We always hope for a little bit stronger growth," he said. "The housing market was really strong a couple years ago, but it's softened probably due to higher interest rates."

Elsesser said that the grand list is only a piece of the puzzle when it comes to the overall revenue the town brings in every year.

When Gov. Ned Lamont releases the state's budget, the town will have a better idea of how it will be affected, he said.

"We're dependent upon state aid and if they cut that, it makes it harder," Elsesser said.

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