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Who is Footing Westport’s Bills?

As the town’s budget discussions build up steam, Westport Patch looks at the top taxpayers contributing to the community's coffers.

Winter means it’s budget season.

In the coming days, the town’s finance officials will get down to the nitty-gritty of examining the spending requests of all the administration’s agencies and departments for the 2011-2012 fiscal.

The bad news is that lower tax levies could put a rein on the town’s spending plans. According to the Town Assessor’s 2010 Grand List of all taxable property, the total value dipped by 12.4 percent from a year earlier, squeezed by a 13.2 percent drop in real estate valuations.

Here, Patch looks at the top ten companies and individuals who are putting in to the town’s pockets.

  • 1. Top of the roll by a large margin is Connecticut Light & Power Inc, which is assessed at $115.7 million for `personal property’, which in the utility’s case relates to equipment such as transmission cables and transformers.
  • 2. ., owner of the corporate office hub at 60 Nyala Farms Road, is calculated at $78. 3 million.
  • 3. Marc and Cathy Lasry are assessed for $22.6 million in relation to their residential property. Multi-millionaire Marc Lasry is co-founder and chief executive of investment manager Avenue Capital Group.
  • 4. Riverside Office 285 & 335 LLC is assessed for $22 million for its waterfront business properties.
  • 5. Ronnie Heyman and the estate of her late husband, financier and philanthropist Samuel Heyman, are levied for $20 million of residential real estate.
  • 6. Roseville Estates Inc is assessed for $19.8 million in relation to 1177 Post Rd East retail strip.
  • 7. , owner of the office building at 55 Greens Farms Rd, will is worth $19.1 million. Parent Allianz recently said it is which was housed in the building, but will retain its real estate unit in the same office.
  • 8. Byelas Irving Irrevocable Trust is assessed for $17.1 million for 1790 Post Road E., known more commonly as the site of .     
  • 9. ., a giant hedge fund and one of the town’s largest employers, is levied for $15.8 million because of its property at 1 Glendinning Place, off Wilton Road.
  • 10. Westjust LLC  assessed at $14.5 million in relation to the shopping plaza at 1850 Post Rd East, which is dominated by retailer Home Goods.         

                2010 Grand List: Top Taxpayers

Payer Property Assessment Connecticut Light & Power Inc              Personal Property                      $115,676,470 Nyala Farms Inc                                    60 Nyala Farms Rd                     $78,274,120 Marc & Cathy Lasry Residential $22,607,600 Riverside Office 285 & 355 LLC           285 & 355 Riverside Ave            $21,990,600 Heyman Ronnie F & Samuel J Est          Residential $19,994,700 Roseville Estates Inc                              1177 Post Rd E                           $19,832,960 Allianz Life Insurance Company             55 Greens Farms Rd                   $19,075,500 Byelas Irving Irrevocable Trust              1790 Post Rd E                           $17,112,200 Bridgewater Associates Inc.                   1 Glendinning Pl.                          $15,818,830 Westjust LLC                                        1850 Post Rd E                           $14,519,200

The assessed value in the  2010 Grand List can be broken down as such. 

Assessment

2010

Percentage of List

Real Estate

9,002,766,290.

94.23 percent

Personal Property

253,482,382.

2.65 percent

Motor Vehicle

297,740,995.

3.12 percent

TOTAL

9,553,989,667

100 percent

Correction: The correct address for the Roseville Estate is 1177 Post Road E., not 1777 Post Road E.

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