Local News - Norwich Bulletin - www.norwichbulletin.com -
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Published on: 3/27/2005
Last Visited: 3/27/2005
KILLINGLY -- The town's grand list increased by slightly more than 2 percent during the previous year, Assessor Melissa Bonin said.
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"There have been a large number of subdivisions that have been approved in recent years, helping to fuel the growth in private homes," Bonin said."What was once a 10-acre houselot, has been subdivided into 10 1-acre lots and that's helped to increase the total real estate value on the grand list."
In addition to the significant number of new homes completed in the past year, the completion of a new auto dealership (Town Line Auto) on lower Route 12 and an addition to the United Natural Foods plant in Dayville also helped to raise the real estate values, according to Bonin.
Gross real estate value on the grand list was pegged at $720,388,245.After exemptions of $100.3 million, the net value of real estate was listed at $620,065,237.
Personal property -- equipment and other items in commercial and industrial properties -- added a net of $79,993,561 and motor vehicles were assessed at a net value of $87,160,455.
"Real estate drives the grand list," Bonin said."We'll likely see a comparable increase in real estate values on the 2005 grand list because there are several subdivision applications still pending before the Planning and Zoning Commission.
"If they come through, we'll have a very busy year," she said.