Grand List DECREASE!!!!!!!

[oldetowne]

As some have suspected, the stellar economic development record of the current Council majority has generated a DECREASE in the net grand list for October 1, 2006. Thousands of dollars spent on consultants, low interest loans, brochures, showmobiles, trolleys, power point presentations, business visitations, etc. have set the stage for yet another stunning property tax increase this July. I am sure there will be some spin on it when (and if) it ever gets published in any newspaper of general circulation, but this is NOT good news for the taxpayers and residents of our fair town.

OCTOBER 1, 2005 GRAND LIST
As Valued at 70% by the Assessor:
1,993,612,580

OCTOBER 1, 2006 GRAND LIST
As Valued at 70% by the Assessor:
1,991,735,670

[ThinkingMama]

Do you know what accounts for the two million dollar decrease?

[oldetowne]

Real estate component went up almost $10MM (1.761 billion to 1.771 billion), personal property went down almost $11MM ($70MM to $59MM), and motor vehicles went down about $600K ($161.5MM to $160.9MM).

Probably a big part of it is the Northeast Utilities abandonment on Cumberland Road, downsizing of a few other businesses, and depreciation of other business assets.