R.D. Scinto is once again the largest taxpayer in Shelton, with assessed assets of $226.6 million in the 2013 grand list. (See a complete list of “Shelton’s Top Ten taxpayers” at the end of this article.)
The company, run by developer Robert Scinto, has built many corporate and other commercial buildings along the Bridgeport Avenue corridor.
“I’m honored to be the top taxpayer,” Scinto said. He then added in a joking manner, “I’ve earned it.”
Real estate made up almost the entire amount of Scinto’s holdings, with the assessed value of the company’s real estate being $225.8 million.
R.D. Scinto’s motor vehicles were worth $600,200 and the company’s personal property (business equipment) was valued at $196,000.
According to the new grand list, Scinto’s real estate holdings account for almost 6% of the entire value of all real estate in the city.
However, Scinto’s overall assets declined from the previous year, when they were worth $238.9 million on the 2012 grand list. That is a decrease of more than 5%.
Some other major taxpayers
The second highest taxpayer is Pitney Bowes, with a $45.5-million assessment. Pitney Bowes owns corporate facilities on Waterview Drive, near Constitution Boulevard South.
The assessments of the next two highest taxpayers are United Illuminating at $44.2 million and Aquarion Water Co. at $37.1 million. Most of the value of these two companies is in business equipment, such as utility lines and related equipment (electric substations, pump stations).
The assessed value of holdings by R.D Scinto, Pitney Bowes and all of Shelton’s Top Ten taxpayers either declined or remained essentially flat year-over-year except for AvalonBay, which increased because of its new apartment building on Canal Street.
AvalonBay also owns a large residential rental complex off lower Bridgeport Avenue known as Avalon Huntington.
Grand list is released
The city recently released its 2013 grand list, which showed an overall increase of 0.5% from the previous year.
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Click below to get more details on the new grand list:
The grand list is the combined assessed value of all taxable real estate, business equipment (called “personal property”), and motor vehicles in the city. In simple terms, it represents what people frequently call “the tax base.”
The new grand list is based on assessed values as of Oct. 1, 2013.
Shelton’s Top Ten taxpayers
Below is a list of the Top Ten taxpayers in Shelton, based on the 2013 grand list:
R.D. Scinto Inc.
Pitney Bowes Inc.
United Illuminating Co.
Aquarion Water Co.
Health Net of Calif. Real Estate
AvalonBay Communities Inc.
Blakeman Construction LLC
RA710 Bridgeport Ave. LLC
Shelton Square Limited Partnership
Bic Consumer Products Manufacturing