FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF HUTTONSVILLE, WEST VIRGINIA
In accordance with Code section 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 14,352
Prior Year Taxes 250
Supplemental Taxes 500
Tax Penalties, Interest & Publication Fees 100
Gas & Oil Severance Tax 10
Excise Tax on Utilities 5,000
Wine & Liquor Tax 15,000
Animal Control Tax 25
Licenses 400
Franchise Fees 3,200
IRP Fees (Interstate Registration Plan) 100
Rents, Royalties, and Concessions 6,000
Transfers from Rainy Day Fund 31,000
Gaming Income 14,000
Interest Earned on Investments 15
Video Lottery (LVL) 500
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 120,452
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 200
Coal Severance Tax 800
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 1,000
General Coal Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office $ 1,620 $ –
City Council 6,000 –
Recorder’s Office 1,620 –
Treasurer’s Office 7,500 –
Community Development (Housing) 50 –
Regional Development Authority 225 –
City Hall 54,852 1,000
Fire Department 4,000 –
Streets and Highways 24,485 –
Street Lights 2,000 –
Signs and Signals 2,500 –
Snow Removal 4,000 –
Storm Sewer 2,500 –
Water & Sewer 600 –
Parks & Recreation 2,000 –
Playgrounds 2,500 –
Aging Program (Senior Citizens) 4,000 –
TOTAL ESTIMATED EXPENDITURES $ 120,452 $ 1,000
MUNICIPALITY OF HUTTONSVILLE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $ 0 11.75 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 2,446,160 23.50 $ 5,748
Personal Property 149,952 352
Total Class II $ 2,596,112 $ 6,100
CLASS IV
Real Estate $ 826,850 47.00 $ 3,886
Personal Property 787,325 3,700
Public Utility 435,175 2,045
Total Class IV $ 2,049,350 $ 9,631
Total Value & Projected Revenue $ 4,645,462 $ 15,731
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 787
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 299
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 14,645
Less Assessor Valuation Fund 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 293
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 14,352
3/18, 3/25