Lucky for any Grand List growth

Fairfield's 2008 Grand List growth suggests that the next few years might be grim: article

Reflecting the nation's economic problems, the town's grand list of taxable property for 2008 recorded only a slight increase -- 0.5 percent -- over the previous year.

The $11.93 billion list represents a $63.4 million increase over the 2007 figure of $11.87 billion.

The town's grand list had grown 1 percent in each of the two preceding years.

Real estate increased by $74 million, attributable primarily to new construction and new subdivisions in place as of last Oct. 1 [emphasis mine], according to Browne. Residential property makes up 85 percent of the town's total grand list.

"What I'm finding is that what a lot of builders are doing is not finishing off projects," Browne said. "When they get to a certain point, they stop until they get a contract for a sale and then they finish it off."