Fayette

Legal Notice

FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
LEVY ESTIMATE – BUDGET DOCUMENT

STATE OF WEST VIRGINIA
MUNICIPALITY OF FAYETTEVILLE, 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
Assigned Fund Balance 1,464,789
Unassigned Fund Balance 607,815
Property Taxes – Current Expense 489,049
Prior Year Taxes 36,000
Supplemental Taxes 35,000
Property Taxes – Excess Levy 278,726
Tax Penalties, Interest & Publication Fees 6,000
Gas & Oil Severance Tax 16,000
Excise Tax on Utilities 203,000
Business and Occupation Tax 1,500,000
Wine & Liquor Tax 85,000
Hotel Occupancy Tax 150,000
Insurance Premium Surtax 50,000
Sales Tax 600,000
Fines, Fees & Court Costs 70,000
Parking Violations 1,000
Licenses 26,000
Miscellaneous Permits 8,100
Franchise Fees 7,500
Inspection, Dilapidated Building, & Vacant Property Fees 15,000
IRP Fees (Interstate Registration Plan) 65,000
Refuse Collection 1,000
Reimbursements 10,000
Interest Earned on Investments 3,500
Refunds & Rebates 8,900
Filing Fees 300
Accident Reports 1,000
Video Lottery (LVL) Tax 8,000
Miscellaneous Revenues 4,300
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 5,750,979

COAL SEVERANCE TAX FUND

REVENUE SOURCE
Assigned Fund 100
Coal Severance Tax 11,000
Interest Earned on Investment 1
Reserve for Encumbrances
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) 11,101

General Coal Severance
Fund Fund

Mayor’s Office 30,640 –
City Council 28,000 –
Recorder’s Office 20,270 –
City Manager’s Office 103,538 –
Treasurer’s Office 88,081 –
Police Judge’s Office 36,000 –
City Attorney 30,000 –
Contributions to Comms/Authorities 85,944 –
Regional Development Authority 3,942 –
Building Inspection 15,000 –
Planning & Zoning 2,000 –
City Hall 448,418 –
Contributions / Transfers to Other Funds 20,000 –
Police Department 1,721,447 –
City Jail 1,000 –
Fire Department 498,659 –
Streets and Highways 655,332 –
Street Lights 35,000 11,101
Signs and Signals 101,515 –
Street Construction 278,726 –
Public Transit 4,020 –
Recycling Center 118,524 –
Storm Sewer 469,932 –
Parks & Recreation 466,433 –
Visitors Bureau 75,000 –
Fair Associations/Festivals 55,307 –
Arts & Humanities 20,000 –
Library 1,200 –
Beautification Programs 43,217 –
Capital Projects – General Government 293,834 –
TOTAL ESTIMATED EXPENDITURES $ 5,750,979 $ 11,101

MUNICIPALITY OF FAYETTEVILLE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024

Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $ 0 11.19 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0

CLASS II
Real Estate $ 67,804,030 22.38 $ 151,745
Personal Property 38,788 87
Total Class II $ 67,842,818 $ 151,832

CLASS IV
Real Estate $ 44,658,770 44.76 $ 199,893
Personal Property 24,518,854 109,746
Public Utility 16,654,227 74,544
Total Class IV $ 85,831,851 $ 384,183

Total Value & Projected Revenue $ 153,674,669 $ 536,015

Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 26.801
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 10,184
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 499,030

Less Assessor Valuation Fund 2.00% 9,981
(Subtracted from regular current expense taxes levied only)

Net Amount to be Raised by Levy of Property Taxes $ 489,049

MUNICIPALITY OF FAYETTEVILLE, WEST VIRGINIA
Excess Street Levy/Levies
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024

Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $ 0 6.25 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0

CLASS II
Real Estate $ 67,804,030 12.50 $ 84,755
Personal Property 38,788 48
Total Class II $ 67,842,818 $ 84,804

CLASS IV
Real Estate $ 44,658,770 25.00 $ 111,647
Personal Property 24,518,854 61,297
Public Utility 16,654,227 41,636
Total Class IV $ 85,831,851 $ 214,580

Total Value & Projected Revenue $ 153,674,669 $ 299,383

Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 14,969
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 5,688

Net Amount to be Raised by Levy for Budget Purposes $ 278,726

STATE OF WEST VIRGINIA
COUNTY OF FAYETTE
MUNICIPALITY OF TOWN OF FAYETTEVILLE

I, Zenda Vance, 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 22nd day of March, 2023.

Zenda Vance
(Signature)
City Recorder
(Official Title of Recording Officer)