Legal 3 col x 14-1/2”
0321 0328
FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF FALLING SPRINGS (RENICK), 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 41,500
Property Taxes – Current Expense 16,855
Tax Penalties, Interest & Publication Fees 62
Gas & Oil Severance Tax 250
Excise Tax on Utilities 3,200
Wine & Liquor Tax 80
Animal Control Tax 15
Licenses 150
IRP Fees (Interstate Registration Plan) 3,200
Parks & Recreation 400
State Government Grants 500
Other Grants 2,000
Gaming Income 16,000
Video Lottery (LVL) 600
Miscellaneous Revenues 100
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 84,912
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 1,000
Coal Severance Tax 400
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 1,400
General Coal Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 1,350 –
City Council 2,250 –
Recorder’s Office 2,250 –
City Attorney 5,000 –
Regional Development Authority 150 –
Elections 1,400 –
City Hall 22,012 –
Other buildings 1,000 –
Fire Department 500 –
Dog Warden / Humane Society 500 –
Ambulance Authority 500 –
Streets and Highways 11,000 –
Snow Removal 4,000 –
Landfill / Incinerator Department 1,000 500
Parks & Recreation 5,000 –
Fair Associations / Festivals 6,000 –
Civic Promotions 400 400
Beautification Programs 1,500 500
Capital Projects – Street and Transportation 19,100 –
TOTAL ESTIMATED EXPENDITURES $ 84,912 $ 1,400
MUNICIPALITY OF FALLING SPRINGS (RENICK), 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 $ 2,174,010 25.00 $ 5,435
Personal Property 6,354 16
Total Class II $ 2,180,364 $ 5,451
CLASS IV
Real Estate $ 822,370 50.00 $ 4,112
Personal Property 470,214 2,351
Public Utility 1,312,085 6,560
Total Class IV $ 2,604,669 $ 13,023
Total Value & Projected Revenue $ 4,785,033 $ 18,474
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 924
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 351
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 17,199
Less Assessor Valuation Fund 2.00% 344
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 16,855
MUNICIPALITY OF FALLING SPRINGS (RENICK), WEST VIRGINIA
Excess Levy/ Levies
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 0.00 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 2,174,010 0.00 $ 0
Personal Property 6,354 0
Total Class II $ 2,180,364 $ 0
CLASS IV
Real Estate $ 822,370 0.00 $ 0
Personal Property 470,214 0
Public Utility 1,312,085 0
Total Class IV $ 2,604,669 $ 0
Total Value & Projected Revenue $ 4,785,033 $ 0
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 0
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 0
Net Amount to be Raised by Levy for Budget Purposes $ 0
STATE OF WEST VIRGINIA
COUNTY OF Greenbrier
MUNICIPALITY OF Falling Springs (Renick)
I, Melinda L. Workman, 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, 2020.
Melinda L. Workman
(Signature)
Town Recorder
(Official Title of Recording Officer)