Legal 3 col x 10-1/4”
0407 0414
FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023
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 $ 30,000
Property Taxes – Current Expense 52,961
Gas & Oil Severance Tax 750
Excise Tax on Utilities 20,000
Wine & Liquor Tax 14,000
Licenses 3,000
Building Permit Fees 100
Miscellaneous Permits 1,000
IRP Fees (Interstate Registration Plan) 25,000
Gaming Income 11,000
Interest Earned on Investments 150
Video Lottery (LVL) 600
Miscellaneous Revenues 1,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 159,561
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 300
Coal Severance Tax 1,200
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 1,500
General Fund Coal Severance
Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 7,900 –
City Council 8,400 –
Recorder’s Office 6,300 –
City Clerk’s Office 41,500 –
Regional Development Authority 250 –
City Hall 22,342 –
Public Works Department 22,000 –
Street Lights 17,500 –
Parks & Recreation 3,500 –
Youth Program – 500
Library – 1,000
Capital Projects – General Government 29,869 –
TOTAL ESTIMATED EXPENDITURES $ 159,561 $ 1,500
MUNICIPALITY OF CLAY, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023
Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $ 0 12.00 $ 0
Public Utility 0 0
Total Class l $ 0 $ 0
CLASS II
Real Estate $ 2,449,970 24.00 $ 5,880
Personal Property 45,220 109
Total Class II $ 2,495,190 $ 5,989
CLASS IV
Real Estate $ 6,294,690 48.00 $ 30,215
Personal Property 2,994,134 14,372
Public Utility 1,556,460 7,471
Total Class IV $ 10,845,284 $ 52,058
Total Value & Projected Revenue $ 13,340,474 $ 58,047
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 2,902
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 1,103
less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 54,042
Less Assessor Valuation Fund 2.00% 1,081
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 52,961
STATE OF WEST VIRGINIA
COUNTY OF Clay
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 25th day of March, 2022.