NEW CANAAN, Conn. – The New Canaan Grand List value has risen by more than $85 million from 2014 to 2015, raising the possibility of more than $1 million in new tax revenue, according to the New Canaan Advertiser.
The Grand List, which compiles the town's total assessed value of real estate and personal property along with all vehicles, is now valued at just over $8.22 billion, the New Canaan Advertiser said.
That's a 1 percent increase from 2014's $8.13 billion valuation and could lead to the town being able to pay off debt, start new programs or reduce any tax bills, reported the New Canaan Advertiser.
First Selectman Rob Mallozzi III had received projections of under one percent growth, calling the surprise increase "very positive," noted the New Canaan Advertiser.
Click here to sign up for Daily Voice's free daily emails and news alerts.