FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF SOPHIA, 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 276,297
Property Taxes – Current Expense 150,653
Prior Year Taxes 14,400
Supplemental Taxes 4,200
Tax Loss Restoration 500
Tax Penalties, Interest & Publication Fees 60
Gas & Oil Severance Tax 10,000
Excise Tax on Utilities 42,000
Business and Occupation Tax 283,000
Wine & Liquor Tax 64,000
Fines, Fees, & Court Costs 36,000
Licenses 6,000
Franchise Fees 14,000
IRP Fees (Interstate Registration Plan) 12,000
Private Liquor Club Fee 2,000
Rents, Royalties, and Concessions 3,600
Gaming Income 10,800
Reimbursements 12,000
Refunds 1,800
Accident Reports 1,200
Video Lottery (LVL) 6,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 950,510
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 500
Coal Severance Tax 4,800
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 5,300
General Coal Severance
Fund Fund
ESTIMATED CURRECT EXPENDITURES
Mayor’s Office 19,380 –
City Council 25,080 –
Recorder’s Office 8,100 –
Police Judge’s Office 5,220 –
City Attorney 6,000 –
Contributions to Comms/Authorities 1,500 –
City Hall 237,810 –
Other buildings 30,300 –
Public Works Department 107,360 –
Police Department 368,900 –
Streets and Highways – 5,300
Street Lights 36,000 –
Playgrounds 1,200 –
Capital Projects – Public Safety 15,660 –
Capital Projects – Street and Transportation 88,000 –
TOTAL ESTIMATED EXPENDITURES $ 950,510 $ 5,300
MUNICIPALITY OF SOPHIA, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
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 $ 11,269,120 25.00 $ 28,173
Personal Property 286,098 715
Total Class II $ 11,555,218 $ 28,888
CLASS IV
Real Estate $ 13,332,480 50.00 $ 66,662
Personal Property 11,933,493 59,667
Public Utility 1,980,877 9,904
Total Class IV $ 27,246,850 $ 136,233
Total Value & Projected Revenue $ 38,802,068 $ 165,121
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 8,256
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 3,137
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 153,728
Less Assessor Valuation Fund 2.00% 3,075
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 150,653
MUNICIPALITY OF SOPHIA, WEST VIRGINIA
Excess Levy / Levies
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
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 $ 11,269,120 0.00 $ 0
Personal Property 286,098 0
Total Class II $ 11,555,218 $ 0
CLASS IV
Real Estate $ 13,332,480 0.00 $ 0
Personal Property 11,933,493 0
Public Utility 1,980,877 0
Total Class IV $ 27,246,850 $ 0
Total Value & Projected Revenue $ 38,802,068 $ 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
MUNICIPALITY OF SOPHIA, WEST VIRGINIA
Excess or Bond Levy
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
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 $ 11,269,120 0.00 $ 0
Personal Property 286,098 0
Total Class II $ 11,555,218 $ 0
CLASS IV
Real Estate $ 13,332,480 0.00 $ 0
Personal Property 11,933,493 0
Public Utility 1,980,877 0
Total Class IV $ 27,246,850 $ 0
Total Value & Projected Revenue $ 38,802,068 $ 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 Raleigh
MUNICIPALITY OF SOPHIA
I, RALPH SALLIE, 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 ___ day of March, 2024.
Ralph Sallie (Signature)
RECORDER
(Official Title of Recording Officer)