TOWN OF FAYETTEVILLE
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF FAYETTEVILLE, 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
Assigned Fund Balance 584,574
Unassigned Fund Balance 1,015,814
Property Taxes – Current Expense 432,141
Prior Year Taxes 36,000
Supplemental Taxes 35,000
Property Taxes – Excess Levy 250,317
Tax Penalties, Interest & Publication Fees 6,000
Gas & Oil Severance Tax 5,000
Excise Tax on Utilities 151,000
Business and Occupation Tax 1,500,000
Wine & Liquor Tax 75,000
Hotel Occupancy Tax 94,000
Insurance Premium Surtax 50,000
Fines, Fees & Court Costs 70,200
Parking Violations 1,000
Licenses 15,000
Building Permit Fees 1,500
Franchise Fees 5,000
Inspection Fees 15,000
IRP Fees (Interstate Registration Plan) 38,000
Rents, Royalties, and Concessions 1,000
Gaming Income 8,000
Interest Earned on Investments 3,200
Refunds 6,500
Filing Fees 300
Accident Report 2,500
Video Lottery (LVL) 8,000
Miscellaneous Revenues 4,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $4,430,546
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $100
Coal Severance Tax 5,000
Interest Earned on Investment 5
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $5,105
Coal
General Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 30,600 –
City Council 28,000 –
Recorder’s Office 17,900 –
City Manager’s Office 89,009 –
Treasurer’s Office 76,598 –
Police Judge’s Office 36,000 –
City Attorney 30,000 –
Contributions to Comms/Authorities 85,944 –
Regional Development Authority 3,942 –
Building Inspection 15,000 –
Planning and Zoning 5,000 –
City Hall 371,505 –
Contributions / Transfers to Other Funds 20,000 –
Police Department 1,408,603 –
City Jail 1,000 –
Fire Department 456,453 –
Streets and Highways 568,082 5,105
Street Lights 35,000 –
Street Construction 250,317 –
Public Transit 3,700 –
Recycling Center 83,620 –
Park & Recreation 224,448 –
Visitors Bureau 47,000 –
Fair Associations/Festivals 23,351 –
Arts & Humanities 1,500 –
Library 1,200 –
Beautification Programs 23,888 –
Capital Projects – General Government 492,886 –
TOTAL ESTIMATED EXPENDITURES $4,430,546 $5,105
MUNICIPALITY OF FAYETTEVILLE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $0 11.01 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $65,884,280 22.02 $145,007
Personal Property 48,004 106
Total Class II $65,932,284 $145,183
CLASS IV
Real Estate $42,652,460 44.04 $187,841
Personal Property 18,475,563 81,366
Public Utility 13,453,993 59,251
Total Class IV $74,582,016 $328,458
Total Value and Projected Revenue $140,514,300 $473,641
Less Delinquencies, Exonerations and Ucollectable Taxes 5.00% 23,682
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 8,999
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $440,960
Less Assessor Valuation Fund 2.00% 8,819
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $432,141
MUNICIPALITY OF FAYETTEVILLE, WEST VIRGINIA
EXCESS STREET LEVY
FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $0 6.25 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $665,884,280 12.50 $82,355
Personal Property 48,004 60
Total Class II $65,932,284 $82,415
CLASS IV
Real Estate $42,652,460 25.00 $106,631
Personal Property 18,475,563 46,189
Public Utility 13,453,993 33,635
Total Class IV $74,582,016 $186,455
Total Value and Projected Revenue $140,514,300 $268,870
Less Delinquencies, Exonerations and Ucollectable Taxes 5.00% 13,444
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 5,109
Net Amount to be Raised by Levy for Budget Purposes $250,317
STATE OF WEST VIRGINIA
COUNTY OF FAYETTE
MUNICIPALITY OF FAYETTEVILLE
I, Zenda Vance, 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 17th day of March, 2021.
Zenda L. Vance
City Recorder