LEVY ESTIMATE NOTICE

FISCAL YEAR 2020/2021
MUNICIPALITY OF OCEANA
LEVY ESTIMATE

STATE OF WEST VIRGINIA
MUNICIPALITY OF OCEANA to wit:

In accordance with Code Section 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 doth determine and estimate the several amounts to be as follows:

CURRENT REGULAR MUNICIPAL PURPOSES ESTIMATE

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
Unencumbered Balance $43,600
Ad Valorem Taxes 110,388
Excess Levy 53,076
Supplemental Taxes 8,860
Tax Penalties and Interest 2,234
Gas & Oil Severance Tax 3,200
Excise Tax on Utilities 56,225
Gross Sales Tax 276,000
Wine and Liquor Tax 7,609
Fines, Fees and Court Costs 45,200
Licenses 2,200
Building Permit Fees 275
Franchise Fees 11,330
IRP Fees 15,884
Parks Revenues 19,740
Rents and Concessions 18,000
State Grants 750
Refuse Collection 196,777
Table Gaming Revenues 10,225
Interest Earned 25
Accident reports 700
Video lottery 475
Miscellaneous 10,700
TOTAL ESTIMATED REVENUE (GENERAL FUND) $893,473

ESTIMATED CURRENT EXPENDITURES (GENERAL FUND)
Office of Mayor $9,043
Members of Council 12,918
Recorder 7,105
Treasurer 43,037
Police Judge 12,255
Regional Development 2,091
City Hall 36,273
Police Department 223,881
Fire Department 56,600
Streets and Highways 53,767
Street Lights 15,737
Garbage Department 285,851
Parks 128,415
Library 6,500
TOTAL ESTIMATED EXPENDITURES (GENERAL FUND) $893,473

COAL SEVERANCE TAX FUND

REVENUE SOURCE
Assigned Fund Balance $100
Coal Severance Tax 3,800
TOTAL ESTIMATED REVENUE (COAL SEVERANCE TAX FUND) $3,900

ESTIMATED CURRENT EXPENDITURES (COAL SEVERANCE TAX FUND)
Streets and Highways $3,900
TOTAL ESTIMATED EXPENDITURES (COAL SEVERANCE TAX FUND) $3,900

LEVY PAGE
For the Fiscal Year Ended June 30, 2020

Current Expense Current Expense
Assessed Values Levy Taxes Levy Taxes
Tax Purposes Rate/$100 Levied Rate/$100 Levied

Class I Property
Personal Property 0 12.50 0 5.89 0
Public Utilities 0 0 0
Total Class I 0 0 0

Class II Property
Real Estate 6,300,920 25.00 15.752 11.78 7,422
Personal Property 222,324 556 262
Total Class II 6,523,244 16,308 7,684

Class IV Property
Real Estate 9,737,820 50.00 48,689 23.56 22,942
Personal Property 7,363,561 36,818 17,349
Public Utilities 3,834,779 19,174 9,035
Total Class IV 20,936,160 104,681 49,326

TOTAL ASSESSED VALUE 27,459,404

TOTAL PROJECTED PROPERTY TAX REVENUE 120,989 57,010

* Less 112, 113, 239 (box lower left) 5% 6,049 2,851

Less 107 – Tax Discounts 2% 2,299 1,083

Total Projected Property Tax Collection 112,641 53,076

Less Assessor Valuation Fund 2% 2,253 –
(Subtracted from current expense taxes levied only)

Net Amounts to be Raised by Levy of Property Taxes 110,388 53,076
(To #301-01 on Page 4)

*112 Uncollectable Taxes 2,016
*113 Exonerations 2,016
*239 Delinquencies 2,017

Roll Back Weighted
Value Weighting Assessed
Class 1 0 0.01 0
Class 2 6,466,802 0.023 129,336
Class 3 0 0.04 0
Class 4 20,715,182 0.04 828,607

Total RB Value 27,181,984 957,943

Prior total projected property tax 121,025

Amount to be raised at 103% 124,656

13.0129

Class 1 Rate 12.50
Class 2 Rate 25.00
Class 3 Rate 50.00

STATE OF WEST VIRGINIA
COUNTY OF WYOMING
MUNICIPALITY OF OCEANA

I, Jim Cook, 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 24th day of March, 2020.

Jim Cook
Recorder

ID: 378658