FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY 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 13,015
Property Taxes – Current Expense 47,500
Tax Loss Restoration 100
Gas & Oil Severance Tax 3,000
Business and Occupation Tax 65,000
Wine & Liquor Tax 700
Animal Control 50
Fines, Fees & Court Costs 2,000
Licenses 1,175
Building Permit Fees 150
IRP Fees (Interstate Registration Plan) 23,000
Employee Health Insurance Premium Charges 4,900
Rents, Royalties, and Concessions 4,534
Gaming Income 14,000
Filing Fees 120
Video Lottery (LVL) 5,219
Miscellaneous Revenues (provide details on ‘Explanations’ Tab) 2,200
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 186,663
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 683
Coal Severance Tax 3,000
Interest Earned on Investment –
Rembursements –
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 3,683
General Coal Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Economic Development $ – $ –
Mayor’s Office 5,200 –
City Council 1,500 –
Recorder’s Office 228 –
City Clerk’s Office 13,174 –
Regional Development Authority 65 –
City Hall 72,100 –
Fire Department 3,500 –
Streets and Highways 74,096 –
Street Lights 16,800 –
Snow Removal – 3,683
TOTAL ESTIMATED EXPENDITURES $ 186,663 $ 3,683
MUNICIPALITY OF FARMINGTON, 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 9.05 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 5,201,120 18.10 $ 9,414
Personal Property 0 0
Total Class II $ 5,201,120 $ 9,414
CLASS IV
Real Estate $ 7,103,740 36.20 $ 25,716
Personal Property 3,362,695 12,173
Public Utility 1,314,314 4,758
Total Class IV $ 11,780,749 $ 42,647
Total Value & Projected Revenue $ 16,981,869 $ 52,061
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 2,603
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 989
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 48,469
Less Assessor Valuation Fund 2.00% 969
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 47,500
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 18th day of March, 2024.
Cathy Toothman
(Signature)
Clerk Recorder
(Official Title of Recording Officer)
ID: 783669