Positive Growth In Wilton’s 2024 Grand List

**News Release Submitted by Wilton First Selectman Toni Boucher**

Feb. 24, 2025

Town Hall is pleased to share that our Assessor’s office has announced that Wilton’s Grand List increased by a robust $75.4 million, or 1.32% in 2024, from 2023 property values. I would like to extend my gratitude to our Town Assessor and Tax Collector, Hollie Rapp, and her staff, for working many long days and weekends to meticulously verify the numbers to achieve this important result.

As a reminder, the Grand List is the total value of all taxable property in Wilton, including residential, commercial, personal business property, and motor vehicles. When these values increase, the Town can more easily raise the revenue it needs to meet the 2026 Fiscal Year budget. In this way, the Grand List helps establish the Mill Rate, which is the number that represents how much tax is levied on a property for every $1,000 of its assessed value. For example, if the mill rate is 25, $25 of property tax will be charged for every $1,000 of a property’s assessed value. When the Grand List grows by a large percentage, an individual’s property taxes will only increase if their property’s value surpassed that of the Grand List.

A substantial growth in Grand List’s value like this year is often good news for property tax payers. It is also an excellent indicator of Wilton’s desirability as a place to live, work and educate children, according to Hollie. The rise in the Grand List is attributed to the increased home improvement projects undertaken by Wilton taxpayers, thereby enhancing the property values and fostering investment in the community.

Currently, the appreciation in property values is not a contributing factor. The Grand List is updated based on market value only during revaluations, ensuring that the assessment reflects the current market conditions.

And there are other strong economic indicators: Apartment construction values were up 62.15%; Personal property was up by 7.43%; and single-family home values gained 0.46% over the prior year. Commercial properties and motor vehicles did see a dip in their values by -11.18% and -5.4% respectively, but it is clear that Wilton continues to be a top choice for families and businesses. Our Town amenities and our stellar school system help Wilton sell itself.

Such a strong showing of Wilton’s real estate could not have come at a better time, as Wilton is in the midst of another difficult budget year. The 2026 Grand List value will go a long way toward helping the Board of Finance reduce the tax rates that may result from this year’s budget cycle. Such news is especially welcome given the additional $700,000 in costs that the Board of Selectmen faced even before budget negotiations began, brought on by the state healthcare plan for municipal employees becoming 13% more expensive, or $466,000 more a year, and the depletion of a $300,000 reserve fund that had previously been used to decrease budget increases and hold down taxes.

When Town revenue does not keep pace with the services our constituents depend on, the results can be dangerous. Wilton’s firefighters, for instance, have not added to their force since 1999. But much has changed in that twenty-five-year period. Commercial and multi-family properties have been built, requiring new training and equipment, and call volume has increased dramatically. Not responding to their new set of needs is a risk to public safety. And, there is the long-delayed list of Schools and Town Building renovation projects as well as information technology infrastructure that has recently been labeled as antiques with some hardware no longer in production. Wilton is growing but investment is needed to keep up with on this good fortune. As Hollie says, “2024 was a rough year with the revaluation, being short-staffed and the Grand List assessment. But we managed to come through by working together and going over everything meticulously. There might be additional increases in real estate throughout the year, with better outcomes for the taxpayer. Wilton taxpayers should know that by improving and investing in their homes, they are increasing the value of our Town. I’m happy to give such great news to our Board of Finance and our Board of Selectmen.”

Not only is this great news, it is much better than expected great news. Thanks again to Hollie and her amazing staff. We are all extremely grateful.

Please contact me with any question at Toni.boucher@wiltonct.gov

Toni Boucher,
Town of Wilton First Selectman