Legal 3 col x 11”
0326 0402
FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF CLAY, 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
Nonspendable Fund Balance $ –
Unassigned Fund Balance 10,000
Property Taxes – Current Expense 49,925
Gas & Oil Severance Tax 1,200
Excise Tax on Utilities 20,000
Wine & Liquor Tax 10,000
Licenses 2,000
Building Permit Fees 100
Miscellaneous Permits 150
IRP Fees (Interstate Registration Plan) 12,000
Parking Meter Revenues 100
Gaming Income 12,000
Interest Earned on Investments 50
Video Lottery (LVL) 500
Miscellaneous Revenues –
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 118,025
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 200
Coal Severance Tax 1,700
Interest Earned on Investment –
Refunds –
TOTAL ESTIMATED REVENUE $ 1,900
(COAL SEVERANCE FUND)
Coal
General Severance
ESTIMATED CURRENT EXPENDITURES Fund Fund
Economic Development $ – $ –
Mayor’s Office 7,800 –
City Council 8,100 –
Recorder’s Office 6,300 –
City Clerk’s Office 40,500 –
Regional Development Authority 250 –
City Hall 26,075 –
Public Grounds 12,000 –
Street Lights 17,500 –
Fair Associations / Festivals – 500
Youth Program – 600
Library – 800
Capitol Projects – Social Services – –
TOTAL ESTIMATED EXPENDITURES $ 118,025 $ 1,900
MUNICIPALITY OF CLAY, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
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 $ 1,342,640 25.00 $ 3,357
Personal Property 63,438 159
Total Class II $ 1,406,078 $ 3,516
CLASS IV
Real Estate $ 6,046,590 50.00 $ 30,233
Personal Property 2,420,681 12,103
Public Utility 1,773,522 8,868
Total Class IV $ 10,240,793 $ 51,204
Total Value & Projected
Revenue $ 11,646,871 $ 54,720
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 2,736
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 1,040
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 50,944
Less Assessor Valuation Fund 2.00% 1,019
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 49,925
STATE OF WEST VIRGINIA
COUNTY OF CLAY
MUNICIPALITY OF CLAY
I, Cynthia Mullins, 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 __ day of March, 2020.