Fayette

Levy Estimate

FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023
LEVY ESTIMATE – BUDGET DOCUMENT

STATE OF WEST VIRGINIA
MUNICIPALITY OF GAULEY BRIDGE, WEST VIRGINIA

In accordance with Code ยง11-8-14, 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 10,000
Property Taxes – Current Expense 32,790
Gas & Oil Severance Tax 800
Excise Tax on Utilities 28,000
Business and Occupation Tax 106,223
Fines, Fees & Court Costs 23,000
Licenses 2,500
Building Permit Fees 400
IRP Fees (Interstate Registration Plan) 5,000
State Government Grants 2,825
Gaming Income 8,509
Video Lottery (LVL) 936
TOTAL ESTIMATED REVENUE (GENERAL FUND) $220,983

COAL SEVERANCE TAX FUND

REVENUE SOURCE

Assigned Fund balance $ 500
Coal Severance Tax 3,000
Interest Earned on Investment –
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $3,500

Coal
General Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 6,000 –
City Council 3,000 –
Recorder’s Office 4,800 –
Treasurer’s Office 5,400 –
Police Judge’s Office 2,400 –
Custodial 1,200 –
Regional Development Authority 200 –
Elections 2,000 –
City Hall 35,000 –
Internal Audit 1,200 –
Police Department 70,000 –
Streets and Highways 58,000 –
Storm Sewer 6,800 –
Parks & Recreation 4,038 –
Fair Associations/Festivals 10,000 –
Library 3,000 –
Beautification Programs 1,500 2,000
Aging Program (Senior Citizens) 5,000 1,500
Bingo Expenses 1,445
TOTAL ESTIMATED EXPENDITURES $220,983 $3,500

MUNICIPALITY OF GAULEY BRIDGE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023

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 $3,075,800 25.00 $7,690
Personal Property $0 $0
Total Class II $3,075,800 $7,690

CLASS IV
Real Estate $2,761,280 50.00 $13,806
Personal Property $1,114,602 $5,573
Public Utility $1,774,024 $8,870
Total Class IV $5,649,906 $28,249

Total Value & Projected Revenue $8,725,706 $35,939

Less Delinquencies, Exonerations & Uncollected Taxes 5.00% 1,797

Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 683

Less Allowance for Tax Increment Financing (if Applicable) 0

Total Projected Property Tax Collection $33,459

Less Assessor Valuation Fund 2.00% 669
(Subtracted from regular expense taxes levied only)

Net Amount to be Raised by Levy of Property Taxes $32,790

MUNICIPALITY OF GAULEY BRIDGE, WEST VIRGINIA
Excess Levy / Levies
FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023

Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied

CLASS I
Personal Property $0 0 $0
Public Utility $0 $0
Total Class I $0 $0

CLASS II
Real Estate $3,075,800 0 0
Personal Property $0 $0
Total Class II $3,075,800 0

CLASS IV
Real Estate $2,761,280 0 0
Personal Property $1,114,602 $0
Public Utility $1,774,024
Total Class IV $5,649,906 $0

Total Value & Projected Revenue $8,725,706 $0

Less Delinquencies, Exonerations & Uncollected Taxes 5.00% 0

Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 0

Net Amount to be Raised by Levy of Property Taxes 0

MUNICIPALITY OF GAULEY BRIDGE, WEST VIRGINIA
Excess or Bond Levy
FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023

Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied

CLASS I
Personal Property $0 0 $0
Public Utility $0 $0
Total Class I $0 $0

CLASS II
Real Estate $3,075,800 0 0
Personal Property $0 $0
Total Class II $3,075,800 0

CLASS IV
Real Estate $2,761,280 0 0
Personal Property $1,114,602 $0
Public Utility $1,774,024
Total Class IV $5,649,906 $0

Total Value & Projected Revenue $8,725,706 $0

Less Delinquencies, Exonerations & Uncollected Taxes 5.00% 0

Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 0

Net Amount to be Raised by Levy of Property Taxes 0

I, Penny Brouillard, 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, 2022.

Penny Brouillard
Recorder