Source: May 2, 2017 Read More →

Falling Springs (Renick) Levy Estimate

Legal
0408 0415

FISCAL YEAR JULY 1, 2017- JUNE 30, 2018
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF FALLING SPRINGS (RENICK), WEST VIRGINIA
In accordance with Code § 11-8-14, as amended, the Council proceeded to make an estimate of the amounts necessary to be raised by levy of taxes for the current fiscal year, and does determine and estimate the several amounts to be as follows:
The amount due and the amount that will become due and collectible from every source during the fiscal year INCLUDING THE LEVY OF TAXES, is as follows:
REVENUE SOURCE
Unassigned Fund Balance        52,421
Gas & Oil Severance Tax        250
Excise Tax on Utilities        4,000
Wine & Liquor Tax        200
Licenses        150
IRP Fees (Interstate Registration Plan)        2,000
Dog Pound Fees        50
Parks & Recreation        500
Gaming Income        15,000
Interest Earned on Investments        25
Video Lottery (LVL)        600
Miscellaneous Revenues        1,000
TOTAL ESTIMATED REVENUE (GENERAL FUND)    $    76,196

COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance    $    220
Coal Severance Tax        300
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND)    $    520

General        Coal Severance
Fund        Fund
ESTIMATED CURRENT EXPENDITURES
Streets and Highways        5,200        350
Beautification Programs        500        170
TOTAL ESTIMATED EXPENDITURES    $    76,196    $    520

MUNICIPALITY OF FALLING SPRINGS (RENICK), WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY l, 2017 – ,JUNE 30, 2018
Certificate of Valuation
Assessed Value        Levy        Taxes
for Tax Purposes        Rate/$100    Levied
CLASS I
Personal Property    $    0        12.50    $    0
Public Utility        0                0
Total Class I    $    0            $    0
CLASS II
Real Estate    $    2,132,700        25.00    $    5,332
Personal Property        0                0
Total Class II    $    2,132,700            $    5,332
CLASS IV
Real Estate    $    793,480        50.00    $    3,967
Personal Property        329,479                1,647
Public Utility        330,338                1,652
Total Class IV    $    1,453,297            $    7,266

Total Value & Projected Revenue    $    3,585,997            $    12,598
Less Delinquencies, Exonerations & Uncollectable Taxes        0.00%        0
Less Tax Discounts (use Total Projected Revenue to calculate)    0.00%        0
Less Allowance for Tax Increment Financing (if Applicable)                12,598
Total Projected Property Tax Collection                $    0
Less Assessor Valuation Fund                2.00%        0
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes                $    0

MUNICIPALITY OF FALLING SPRINGS (RENICK), WEST VIRGINIA
Excess Levy / Levies
FISCAL YEAR JULY 1, 2017 – JUNE 30, 2018
Certificate of Valuation
Assessed Value        Levy        Taxes
for Tax Purposes        Rate/$100    Levied
CLASS I
Personal Property    $    0        0.00    $    0
Public Utility        0                0
Total Class I    $    0            $    0
CLASS II
Real Estate    $    2,132,700        0.00    $    0
Personal Property        0                0
Total Class II    $    2,132,700            $    0
CLASS IV
Real Estate    $    793,480        0.00    $    0
Personal Property        329,479                0
Public Utility        330,338                0
Total Class IV    $    1,453,297            $    0

Total Value & Projected Revenue    $    3,585,997            $    0
Less Delinquencies, Exonerations & Uncollectable Taxes        0.00%        0
Less Tax Discounts (use Total Projected Revenue to calculate)    0.00%        0
Net Amount to be Raised by Levy for Budget Purposes            $    0

MUNICIPALITY OF FALLING SPRINGS (RENICK), WEST VIRGINIA
Excess or Bond Levy
FISCAL YEAR JULY 1, 2017 – JUNE 30, 2018
Certificate of Valuation
Assessed Value        Levy        Taxes
for Tax Purposes        Rate/$100    Levied
CLASS I
Personal Property    $    0        0.00    $    0
Public Utility        0                0
Total Class I    $    0            $    0
CLASS II
Real Estate    $    2,132,700        0.00    $    0
Personal Property        0                0
Total Class II    $    2,132,700            $    0
CLASS IV
Real Estate    $    793,480        0.00    $    0
Personal Property        329,479                0
Public Utility        330,338                0
Total Class IV    $    1,453,297            $    0

Total Value & Projected Revenue    $    3,585,997            $    0
Less Delinquencies, Exonerations & Uncollectable Taxes        0.00%        0
Less Tax Discounts (use Total Projected Revenue to calculate)    0.00%        0
Net Amount to be Raised by Levy for Budget Purposes            $    0
STATE OF WEST VIRGINIA
COUNTY OF Greenbrier
MUNICIPALITY OF Corporation of Falling Springs
I, Melinda L. Workman, Recording Officer of said municipality, do hereby certify that the foregoing are true copies from the record of the orders made and entered by the council of the said municipality on the 26th day of March, 2017.
(Signature)
Town Recorder
(Official Title of Recording Officer)