Legal 3 col x 10-1/4”
0318 0325
FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
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
Unassigned Fund Balance $ 25,000
Property Taxes – Current Expense 51,437
Gas & Oil Severance Tax 1,200
Excise Tax on Utilities 22,000
Wine & Liquor Tax 12,000
Licenses 3,000
Building Permit Fees 100
Miscellaneous Permits 1,000
IRP Fees (Interstate Registration Plan) 15,000
Gaming Income 8,000
Interest Earned on Investments 50
Video Lottery (LVL) 700
Miscellaneous Revenues 200
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 139,687
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 100
Coal Severance Tax 900
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 1,000
General Fund Coal Severance
Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 7,800 –
City Council 8,100 –
Recorder’s Office 6,300 –
City Clerk’s Office 40,000 –
Regional Development Authority 250 –
City Hall 36,237 –
Public Works Department 25,000 –
Street Lights 15,000 –
Fair Associations/Festivals 1,000 –
Youth Program – 300
Library – 700
TOTAL ESTIMATED EXPENDITURES $ 139,687 $ 1,000
MUNICIPALITY OF CLAY, 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 12.03 $ 0
Public Utility 0 0
Total Class l $ 0 $ 0
CLASS II
Real Estate $ 2,063,390 24.06 $ 4,965
Personal Property 61,338 148
Total Class II $ 2,124,728 $ 5,113
CLASS IV
Real Estate $ 5,779,830 48.12 $ 27,813
Personal Property 3,113,804 14,984
Public Utility 1,759,647 8,467
Total Class IV $ 10,653,281 $ 51,264
Total Value & Projected Revenue $ 12,778,009 $ 56,377
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 2,819
Less Tax Discounts (use Total Projected Revenue To calculate) 2.00% 1,071
less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 52,487
Less Assessor Valuation Fund 2.00% 1,050
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 51,437
STATE OF WEST VIRGINIA
COUNTY OF
MUNICIPALITY 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 9th day of March, 2021.