What does the Grand List represent in Connecticut?

The Grand List in Connecticut represents the total assessed value of all taxable property within a municipality. This list is an essential tool for local governments as it aggregates the value of real estate, personal property, and motor vehicles, allowing municipalities to determine their property tax base. The Grand List is updated annually to reflect changes in property values due to various factors like sales, improvements, or alterations to properties.

Understanding the Grand List is crucial for assessing property taxes, as it provides the foundation for calculating the mill rate, which is used to generate revenue for municipal services, schools, and public infrastructure. The Grand List serves not only as a transparency tool for residents to understand property values and their potential tax obligations but also plays a role in strategic planning and budget development within local governments.

The annual budget report, record of property ownership, and list of tax exemptions are relevant documents and concepts related to municipal finance, but they serve different purposes and do not encapsulate the comprehensive valuation represented by the Grand List.