Tucker

Parsons Levy

FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF PARSONS, 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     $     30,000
Property Taxes – Current Expense         123,511
Prior Year Taxes         10,000
Supplemental Taxes        5,000
Tax Loss Restoration        500
Tax Penalties, Interest & Publication Fees        3,000
Gas & Oil Severance Tax         2,000
Excise Tax on Utilities         55,000
Wine & Liquor Tax         10,000
Animal Control Tax         1,000
Hotel Occupancy Tax         300
Fines, Fees & Court Costs         2,000
Parking Violations        1,000
Licenses         4,000
Building Permit Fees         1,000
Franchise Fees         8,000
IRP Fees (Interstate Registration Plan)         5,000
Private Liquor Club Fee        2,000
Parks & Recreation         6,000
Rents, Royalties and Concessions        83,000
Contributions from Other Entities         85,000
Gaming Income         15,000
Municipal Specific        1,000
Interest Earned on Investments         100
Reimbursements (Explain type of funds & amounts being transferred)     225,000
Refunds         3,500
Filing Fees        200
Accident Reports         50
Miscellaneous Revenues        500
TOTAL ESTIMATED REVENUE (GENERAL FUND)    $    713,661
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance     $         100
Coal Severance Tax             5,000
Interest Earned on Investment            2
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND)          $          5,102
General            Coal Severance
Fund    Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office                $    2,584         –
City Council                    7,751        –
Recorder’s Office                    2,138        –
Treasurer’s Office                    25,000        –
Police Judge’s Office                    4,000        –
City Attorney                    4,800        –
Main Street Program                    10,000        –
Custodial                    7,000        –
Regional Development Authority                    1,485
Elections                    3,500
City Hall                    100,088        –
Public Grounds                    2,000        –
Contingencies                    25,000        –
Police Department                    70,000        –
Dog Warden/Humane Society                    1,000        –
Streets and Highways                    140,000        5,102
Street Lights                    20,000        –
Signs and Signals                    5,000        –
Snow Removal                    20,000        –
Parks & Recreation                    7,500        –
Visitors Bureau                    150        –
Fair Associations/ Festivals                    10,000        –
Community Center                    30,000        –
Beautification Programs                    3,000        –
Capital Projects – General Government            2,265        –
Capital Projects – Public Safety                    7,400        –
Capital Projects – Street and Transportation            52,000        –
Capital Projects – Culture and Recreation            150,000        –
TOTAL ESTIMATED EXPENDITURES        $    713,661     $    5,102

MUNICIPALITY OF PARSONS, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of Valuation
Assessed Value        Levy        Taxes
for Tax Purposes        Rate/$100        Levied
CLASS I
Personal Property        $    0        11.96     $    0
Public Utility            0                0
Total Class I        $    0            $    0
CLASS II
Real Estate        $    12,734,380        23.92     $    30,461
Personal Property            201,138                481
Total Class II        $    12,935,518            $    30,942
CLASS IV
Real Estate         $     10,029,790         47.84     $     47,983
Personal Property             7,909,539                37,839
Public Utility            3,603,917                17,241
Total Class IV        $     21,543,246            $    103,063
Total Value & Projected Revenue        $   34,478,764            $    134,005
Less Delinquencies, Exonerations & Uncollectable Taxes          5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}        6,700
Less Tax Discounts (use Total Projected Revenue to calculate)      2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}        2,546
Less Allowance for Tax Increment Financing (if Applicable)            0
Total Projected Property Tax Collection                $    124,759
Less Assessor Valuation Fund                             1.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}        1,248
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes        $    123,511