FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF SOPHIA, WEST VIRGINIA
In accordance with Code ยง 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 200,000
Property Taxes – Current Expense 136,191
Prior Year Taxes 12,000
Supplemental Taxes 3,600
Tax Loss Restoration 500
Tax Penalties, Interest & Publication Fees 60
Gas & Oil Severance Tax 2,500
Excise Tax on Utilities 42,000
Business and Occupation Tax 241,500
Wine & Liquor Tax 56,000
Fines, Fees & Court Costs 84,000
Licenses 8,000
Franchise Fees 16,000
IRP Fees (Interstate Registration Plan) 15,600
Private Liquor Club Fee 800
Rents, Royalties, and Concessions 4,800
Gaming Income 7,200
Reimbursements (Explain type of funds & amounts being transferred,
“Expenditures” tab Cell Reference A662 : D666) 12,000
Refunds 1,200
Accident Reports 1,200
Video Lottery (LVL) 5,400
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 850,551
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 500
Coal Severance Tax 2,200
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 2,700
General Coal Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 19,380 –
City Council 22,424 –
Recorder’s Office 8,100 –
Police Judge’s Office 5,172 –
City Attorney 1,800 –
Contributions to Comms/Authorities 1,500 –
City Hall 196,025 –
Other buildings 14,760 –
Public Works Department 83,120 2,700
Police Department 386,600 –
Street Lights 36,00 –
Capital Projects – Public Safety 15,660 –
Capital Projects – Street and Transportation 60,010 –
TOTAL ESTIMATED EXPENDITURES $ 850,551 $ 2,700
MUNICIPALITY OF SOPHIA, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
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 $ 11,030,000 25.00 $ 27,575
Personal Property 193,566 484
Total Class II $ 11,223,566 $ 28,059
CLASS IV
Real Estate $ 13,197,950 50.00 $ 65,990
Personal Property 9,194,071 45,970
Public Utility 1,850,121 9,251
Total Class IV $ 24,242,142 $ 121,211
Total Value & Projected Revenue $ 35,465,708 $ 149,270
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 7,463
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 2,836
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 138,970
Less Assessor Valuation Fund 2.00% 2,779
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 136,191
STATE OF WEST VIRGINIA
COUNTY OF RALEIGH
MUNICIPALITY OF SOPHIA
I, Gary Basham, 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 18 day of March, 2021.
Gary Basham
(Signature)
Recorder
(Official Title of Recording Officer)