FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF BENWOOD, WEST VIRGINIA
In accordance with Code Section 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
Restricted Fund Balance 3,108,370
Assigned Fund Balance 2,364,551
Property Taxes – Current Expense 427,030
Property Taxes – Excess Levy 182,195
Gas & Oil Severance Tax 10,000
Excise Tax on Utilities 85,000
Business and Occupation Tax 850,000
Wine and Liquor Tax 30,000
Animal Control Tax 125
Fines, Fees and Court Costs 100,000
Licenses 15,000
Building Permit Fees 2,000
IRP Fees (Interstate Registration Plan) 20,000
Employee Health Insurance Premium Charges 12,500
Rents, Royalties, and Concessions 117,500
State Government Grants 10,000
Payment in Lieu of Taxes 18,000
Gaming Income 10,500
Interest Earned on Investments 10,000
Reimbursements 12,000
Refunds 5,000
Accident Reports 200
Video Lottery (LVL) 12,300
Miscellaneous Revenues 1,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $7,403,271
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $71,570
Coal Severance Tax 5,426
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $76,996
ESTIMATED CURRENT EXPENDITURES
General Fund Coal Severance
Fund
Mayor’s Office 8,471 –
City Council 19,765 –
Treasurer’s Office 95,510 –
Police Judge’s Office 10,759 –
City Attorney 5,664 –
Custodial 4,001 –
Regional Development Authority 540 –
Building Inspection 1,800 –
Planning & Zoning 300 –
City Hall 1,818,250 –
Police Department 840,212 –
Fire Department 38,575 –
Dams & Dredging 750 –
Communication Center/Central Dispatch 232,859 –
Flood Control / Soil Conservation 17,355 –
Local Law Enforcement Block Grant 10,000
Streets and Highways 514,463
Street Lights 27,000
Signs & Signals 3,300
Snow Removal 16,133
Central Garage 18,000
Street Cleaning 4,000
Public Transit 159,057
Landfill/Incinerator Department 5,100
Storm Sewer 3,000
Parks & Recreation 198,673
Community Center 16,615
Playgrounds 6,225
Library 18,524
Beautification Programs 200,000 76,996
Capital Projects – General Government 3,108,370
TOTAL ESTIMATED EXPENDITURES $7,403,271 $76,996
MUNICIPALITY Of BENWOOD, WEST VIRGINIA
REGULAR CURRENT EXPENSE LEVY
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
Certificate of Valuation Levy Taxes
Assessed Value Rate/$100 Levied for Tax Purposes
CLASS I
Personal Property $0 11.24 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $7,058,570 22.48 $15,868
Personal Property 0 0
Total Class II $7,058,570 $15,868
CLASS IV
Real Estate $21,866,780 44.96 $98,313
Personal Property 76,906,201 345,770
Public Utility 4,490,336 20,189
Total Class IV $103,263,317 $464,272
Total Value & Projected Revenue $110,321,887 $480,140
Less Delinquencies, Exonerations,
& Uncollectable Taxes 5.00% 24,007
Less Tax Discounts (Use Total
Projected Revenue to calculate) 1.00% 4,561
Less Allowance for Tax Increment
Financing (if Applicable) 18,039
Total Projected Property Tax Collection $433,533
Less Assessor Valuation Fund 1.50% 6,503
(Subtracted from regular current
expense taxes levied only)
Net Amount to be Raised by
Levy of Property Taxes $427,030
MUNICIPALITY OF BENWOOD, WEST VIRGINIA
Excess Levy / Levies
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
Certificate of Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property $0 4.535 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $7,058,570 9.070 $6,402
Personal Property 0
Total Class II $7,058,570 $6,402
CLASS IV
Real Estate $21,866,780 18.140 $39,666
Personal Property 76,906,201 139,508
Public Utility 4,490,336 8,145
Total Class IV $103,263,317 $187,319
Total Value & Projected Revenue $110,321,887 $193,721
Less Delinquencies, Exonerations,
& Uncollectable Taxes 5.00% 9,686
Less Tax Discounts 1.00% 1,840
(use Total Projected Revenue to calculate)
Net Amount to be Raised by Levy For Budget Purposes: $182,195
STATE OF WEST VIRGINIA,
COUNTY OF – MARSHALL
MUNICIPALITY OF – BENWOOD
I, Tiffany Ankrom, 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 22nd day of May, 2024.
Budget is pending certified canvas. Meeting to Lay the Levy is May 30th at 6:00pm in the Benwood City Council Chambers.
Tiffany Ankrom
City Clerk/Treasurer
INTEL – May 23 & 28, 2024