The value of Montville’s just-signed Grand List is about four percent lower than last year’s total – which was nearly 15 percent lower than the 2010 list. And the town’s assessor says you can point to the loss of AES Thames and slot machine taxes as culprits, in part.
The 2012 Grand List total is $1,242,051,340 (or $1.24 billion). It breaks down this way: real estate is $1,036,539,920; personal property is $92,713,700 and motor vehicles are $112,797,720.
There are two primary reasons for the decrease this year over last, Assessor Lucy Beit said.
“We attribute it to loss of property and value, especially of the AES Thames (personal) property and, we can no longer tax leased slot machines at (Mohegan Sun) because Ledyard lost a federal lawsuit," Beit said.
Last winter, a federal judge ruled that the Town of Ledyard does not have the authority to tax property on Mashantucket Pequot Tribal Nation land, no matter who owns the property. The tribe filed suit against Ledyard in 2006 claiming the town did not have the authority to tax leased slot machines. A judge agreed.
So what does that means to Montville in terms of loss? According to Beit, for the October 2011 Grand List, the assessed value of gaming equipment at Mohegan Sun was approximately $5.3 million.
The current mill rate in Montville is .02933 or $29.33 per $1,000.
There are more than 7,000 properties in Montville. Click here to visit the Vision online database of each and every parcel.