New London – The city’s large list of taxable properties rose 1.39% as of October 1, 2020, helped by appreciation in commercial and residential real estate, automobiles and personal property.
The total taxable list for 2020 was $ 1.51 billion, an increase of $ 20.7 million from the previous year when the list increased 2.95%.
Net taxable real estate increased $ 9.24 million, an increase of 0.75%. Taxable personal property increased more than $ 4 million to $ 155.2 million, an increase of 2.7%. Automotive values increased 6.6% to $ 119.5 million.
Tax-exempt real estate was $ 942,995, a decrease of 1% or $ 10.1 million from the previous year.
The top ten New London taxpayers, unchanged from last year, had a combined estimated net worth of $ 242.4 billion. Electric Boat’s real estate holdings make up 4.38% of the city’s total grand list.
New London’s Top 10 Taxpayers:
1. Electric Boat Corporation, $ 66.3 million
2. Yankee Gas Services Co. (Eversource), $ 37 million
3. Connecticut Light & Power Co. (Eversource / DOT / Amtrak), $ 34.9 million
4. Cedar PCP-New London LLC (NL Mall), $ 23.9 million
5. Vesta Winthrop LLC (Huntington St. Apts.), $ 18.2 million
6. Ocean Beach Apartments LLC, $ 16.9 million
7. New London Shopping Center LLC, $ 12.6 million
8. Ansonia Acquisitions I LLC (Hawthorne Drive Apts.), $ 12.5 million
9. Renaissance City Development Association, $ 10.9 million
10. New London Housing Authority, $ 9 million