FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF WELCH, 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 246,571
Property Taxes – Current Expense 199,879
Property Taxes – Excess Levy 104,745
Gas & Oil Severance Tax 25,000
Excise Tax on Utilities 90,000
Business and Occupation Tax 720,000
Wine & Liquor Tax 22,000
Hotel Occupancy Tax 22,000
Fines, Fees & Court Costs 5,000
Licenses 9,000
Franchise Fees 15,000
IRP Fees (Interstate Registration Plan) 120,000
Parks & Recreation 26,600
Off Street Parking 4,312
Rents, Royalties, and Concessions 37,000
Fire Protection Fees 54,200
Civic Center / Coliseum 95,500
Contributions from Other Entities 156,000
Contributions from other Funds 172,559
Gaming Income 11,500
Interest Earned on Investments 112,000
Reimbursements 10,000
Sale of Fixed Assets 1,000
Accident Reports 1,000
Video Lottery (LVL) 3,000
Miscellaneous Revenues 1,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 2,264,866
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 3,775
Coal Severance Tax 15,000
Interest Earned on Investment 100
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 18,875
General Coal Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 20,430 –
City Council 54,470 –
Police Judge’s Office 1,000 –
Clearance 100,000 –
Elections 2,300 –
City Hall 402,323 18,875
Other buildings 30,000 –
Parking 8,800 –
Police Department 333,600 –
Fire Department 54,200 –
Streets and Highways 544,315 –
Street Lights 42,000 –
Sidewalks 160,000 –
Public Transit 1,500 –
Parks & Recreation 18,800 –
Visitors Bureau 11,000 –
Fair Associations/Festivals 120,000 –
Swimming Pools 65,370 –
Arts & Humanities 31,110 –
Playgrounds 2,000 –
Civic Center – Municipal Auditorium 198,807 –
Historical Commission 47,000 –
Library 4,041 –
Beautification Programs 11,800 –
TOTAL ESTIMATED EXPENDITURES $ 2,264,866 $ 18,875
MUNICIPALITY OF WELCH, 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 12.17 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 7,263,680 24.34 $ 17,680
Personal Property 97,356 237
Total Class II $ 7,361,036 $ 17,917
CLASS IV
Real Estate $ 16,811,020 48.68 $ 81,836
Personal Property 15,253,515 74,254
Public Utility 8,329,831 40,550
Total Class IV $ 40,394,366 $ 196,640
Total Value & Projected Revenue $ 47,755,402 $ 214,557
Less Delinquencies, Exonerations & Uncollectable Taxes 3.00% 6,437
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 4,162
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 203,958
Less Assessor Valuation Fund 2.00% 4,079
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 199,879
MUNICIPALITY OF WELCH, 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 6.25 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 7,263,680 12.50 $ 9,080
Personal Property 97,356 122
Total Class II $ 7,361,036 $ 9,202
CLASS IV
Real Estate $ 16,811,020 25.00 $ 42,028
Personal Property 15,253,515 38,134
Public Utility 8,329,831 20,825
Total Class IV $ 40,394,366 $ 100,987
Total Value & Projected Revenue $ 47,755,402 $ 110,189
Less Delinquencies, Exonerations & Uncollectable Taxes 3.00% 3,306
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 2,138
Net Amount to be Raised by Levy for Budget Purposes $ 104,745
STATE OF WEST VIRGINIA
COUNTY OF McDowell
MUNICIPALITY OF WELCH
I, Robin G. Lee, 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 21st day of March, 2024.
Robin G. Lee
(Signature)
City Clerk
(Official Title of Recording Officer)
ID: 784720