FISCAL YEAR JULY 1, 2016 – JUNE 30, 2017
LEVY ESTIMATE – BUDGET DOCUMENT
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
Unassigned Fund Balance 67,000
Property Taxes – Current Expense 10,323
Gas & Oil Severance Tax 285
Excise Tax on Utilities 1,000
Franchise Fees 2,000
IRP Fees (Interstate Registration Plan) 3,000
Contributions from Other Entities 200
Gaming Income 12,000
Video Lottery (LVL) 300
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 96,108
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 2,150
Coal Severance Tax 450
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 2,600
GeneralCoal Severance
FundFund
ESTIMATED CURRENT EXPENDITURES
Recorder’s Office 9,293 500
Custodial 5,063 –
Regional Development Authority 156 –
Elections 1,300 600
City Hall 24,146 1,500
Contributions / Transfers to Other Funds 25,000 –
Contingencies 9,600 –
Fire Department 500 –
Street Lights 2,250 –
Snow Removal 300 –
Parks & Recreation 3,500 –
Fair Associations/Festivals 2,500 –
Youth Program 1,500 –
Playgrounds 4,500 –
4-H Camp 1,000 –
Beautification Programs 2,000 –
Cemeteries 1,500 –
Social Services 1,000 –
Human Resources 1,000 –
TOTAL ESTIMATED EXPENDITURES $ 96,108 $ 2,600
MUNICIPALITY OF MONTROSE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2016 – JUNE 30, 2017
Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $ 0 11.96 $ 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 1,879,710 23.92 $ 4,496
Personal Property 108,102 259
Total Class II $ 1,987,812 $ 4,755
CLASS IV
Real Estate $ 264,070 47.84 $ 1,263
Personal Property 372,773 1,783
Public Utility 785,376 3,757
Total Class IV $ 1,422,219 $ 6,804
Total Value & Projected Revenue $ 3,410,031 $ 11,559
Less Delinquencies, Exonerations & Uncollectable Taxes7.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}809
Less Tax Discounts (use Total Projected Revenue to calculate)2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}215
Less Allowance for Tax Increment Financing (if Applicable)0
Total Projected Property Tax Collection$10,535
Less Assessor Valuation Fund2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}211
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes$10,324
STATE OF WEST VIRGINIA
COUNTY OF Randolph
MUNICIPALITY OF Montrose
I, Sharon Bedford, 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 March,
2016.
Sharon Bedford
Recorder
4/1, 4/8