FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF MOUNT HOPE, 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
Nonspendable Fund Balance $ –
Restricted Fund Balance –
Committed Fund Balance 150,000
Assigned Fund Balance 8,000
Unassigned Fund Balance 735
Property Taxes – Current Expense 113,312
Prior Year Taxes 10,000
Supplemental Taxes 10,000
Tax Loss Restoration 2,500
Property Taxes – Excess Levy 47,477
Tax Penalties, Interest & Publication Fees 4,000
Gas & Oil Severance Tax 6,000
Excise Tax on Utilities 47,000
Business and Occupation Tax 100,000
Wine & Liquor Tax 200
Animal Control Tax 100
Fines, Fees & Court Costs 94,500
Parking Violations 300
Licenses 6,000
Building Permit Fees 400
Miscellaneous Permits 200
Franchise Fees 9,000
IRP Fees (Interstate Registration Plan) 35,000
Rents, Royalties, and Concessions 10,000
Jail Fees 100
Police Protection Fees 7,000
Charges for Services 250
Contributions from Other Entities 10,000
Payment in Lieu of Taxes 10,500
Payroll Reimbursements 20,000
Gaming Income 11,000
Interest Earned on Investments 300
Refunds 3,000
Accident Reports 150
Video Lottery (LVL) 4,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 721,024
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 100
Coal Severance Tax 5,200
Interest Earned on Investment 20
Reimbursements –
Refunds –
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $ 5,320
Coal
General Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Economic Development $ – $ –
Mayor’s Office 400 –
City Council 4,506 –
Recorder’s Office 5,204 –
City Manager’s Office 7,697 –
Treasurer’s Office 22,960 –
Police Judge’s Office 4,475 –
City Attorney 5,000 –
Regional Development Authority 460 –
Planning & Zoning 15,000 –
City Hall 50,359 5,320
Other buildings 5,000 –
Police Department 196,129 –
Streets and Highways 183,234 –
Street Lights 26,500 –
Signs and Signals – –
Snow Removal 12,600 –
Public Transit 5,000 –
Storm Sewer 3,000 –
Fair Associations/Festivals 500 –
Community Center 16,000 –
Library 1,500 –
Stadium 4,500 –
Beautification Programs 1,000 –
Capital Projects – Street and Transportation 150,000 –
TOTAL ESTIMATED EXPENDITURES $ 721,024 $ 5,320
MUNICIPALITY OF MOUNT HOPE, 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 12.25 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 14,034,420 24.50 $ 34,384
Personal Property 59,400 146
Total Class II $ 14,093,820 $ 34,530
CLASS IV
Real Estate $ 7,267,470 49.00 $ 35,611
Personal Property 5,062,634 24,807
Public Utility 5,968,787 29,247
Total Class IV $ 18,298,891 $ 89,665
Total Value & Projected Revenue $ 32,392,711 $ 124,194
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 6,210
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 2,360
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 115,625
Less Assessor Valuation Fund 2.00% 2,313
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 113,313
MUNICIPALITY OF MOUNT HOPE, WEST VIRGINIA
Street, Street Lights, & Recreation
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 5.03 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 14,034,420 10.06 $ 14,119
Personal Property 59,400 60
Total Class II $ 14,093,820 $ 14,178
CLASS IV
Real Estate $ 7,267,470 20.12 $ 14,622
Personal Property 5,062,634 10,186
Public Utility 5,968,787 12,009
Total Class IV $ 18,298,891 $ 36,817
Total Value & Projected Revenue $ 32,392,711 $ 50,996
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00% 2,550
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 969
Net Amount to be Raised by Levy for Budget Purposes $ 47,477
STATE OF WEST VIRGINIA
COUNTY OF FAYETTE
MUNICIPALITY OF MOUNT HOPE
I, Daniel C Logan, 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 19th day of March, 2024.
DANIEL C LOGAN
(Signature)
RECORDER
(Official Title of Recording Officer