FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF TOWN OF FARMINGTON, 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 $ 10,000
Property Taxes – Current Expense 38,281
Tax Loss Restoration 100
Gas & Oil Severance Tax 890
Excise Tax on Utilities 6,000
Business and Occupation Tax 71,000
Wine & Liquor Tax 500
Animal Control Tax 25
Fines, Fees & Court Costs 20,000
Licenses 650
Building Permit Fees 100
IRP Fees (Interstate Registration Plan) 20,400
Rents, Royalties, and Concessions 2,500
Police Protection Fees 12,000
Gaming Income 5,214
Accident Reports 50
Video Lottery (LVL) 1,000
Miscellaneous Revenues 3,500
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 192,210
REVENUE SOURCE
Assigned Fund Balance 100
Coal Severance Tax 500
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 600
General Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Econmic Development – –
Mayor’s Office 900 –
City Council 900 –
Recorder’s Office 17,680 –
City Clerk’s Office 17,680 –
City Auditor 1,200
Printing 250 –
Regional Development Authority 200 –
City Hall 45,500 –
Police Department 45,800 –
Fire Department 1,000 –
Streets and Highways 42,000 600
Street Lights 12,000 –
Signs and Signals 400 –
Snow Removal 1,200 –
Central Garage 1,050 –
Street Construction 2,500 –
Parks & Recreation 700 –
Fair Associations/ Festivals 250 –
Community Center 1,000 –
TOTAL ESTIMATED EXPENDITURES $ 192,210 $ 600
MUNICIPALITY OF FARMINGTON, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2020- JUNE 30, 2021
Certification of Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property 0 7.83 0
Public Utility 0 0
Total Class I 0 0
CLASS II
Real Estate $4,637,290 15.66 $7,262
Personal Property 0 0
Total Class II $4,637,290 $7,262
CLASS IV
Real Estate $6,835,810 31.32 $21,410
Personal Property 2,618,243 8,200
Public Utility 1,623,501 5,085
Total Class IV $11,077,554 $34,695
Total Value &
Projected Revenue $ 15,714,844 $ 41,957
Less Delinquencies, Exonerations,
& Uncollectable Taxes 5.00% 2,098
Less Tax Discounts (use Total Projectd Revenue to calculate)
2.00% 797
Less Allowance for Tax Increment Financing
(if Applicable) 0
Total Projected Property Tax Collection 38,192
Less Assessor Valuation Fund 2.00% 781
(subtracted from regular current expese taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 38,281
STATE OF WEST VIRGINIA
COUNTY OF MARION
MUNICIPALITY OF FARMINGTON
I, Cathy Toothman, 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 16th day of March, 2020.
Cathy Tootham,
Clerk/Recorder
Times: April 29, May 6, 2020