FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF MONTROSE, WEST VIRGINIA
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 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 95,000
Property Taxes – Current Expense 10,891
Tax Loss Restoration 150
Gas & Oil Severance Tax 250
Excise Tax on Utilities 3,000
Franchise Fees 1,500
IRP Fees (Interstate Registration Plan) 10,000
Contributions from Other Entities 1,000
Gaming Income 9,000
Refunds 20
Video Lottery (LVL) 500
TOTAL ESTIMATED REVENUE
(GENERAL FUND) $131,311
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $3,988
Coal Severance Tax 400
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $4,388
General Coal
Fund Severance
Fund
ESTIMATED CURRENT
EXPENDITURES
Recorder’s Office 9,182 –
Custodial 1,650 –
Regional Development Authority 179 –
City Hall 14,000 –
Contributions / Transfers to Other Funds 30,000 –
Contingencies 9,000 –
Fire Department 500 –
Street Lights 2,500 –
Snow Removal 300 –
Storm Sewer 13,400 4,388
Parks & Recreation 6,000 –
Fair Associations/Festivals 1,500 –
Community Center 15,000 –
Youth Program 1,000 –
Playgrounds 23,000 –
4-H Camp 500 –
Rails to Trails 500 –
Beautification Programs 600 –
Cemeteries 1,000 –
Social Services 1,000 –
Human Resources 500 –
TOTAL ESTIMATED EXPENDITURES $131,311 $4,388
MUNICIPALITY OF MONTROSE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2022 – JUNE 30, 2023
Certificate of
Valuation
Assessed Value Levy Taxes
for Tax Rate/$100 Levied
Purposes
CLASS I
Personal Property $0 12.50 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $2,151,070 25.00 $5,378
Personal Property 145,936 365
Total Class II $2,297,006 $5,743
CLASS IV
Real Estate $353,820 50.00 $1,769
Personal Property 487,840 2,439
Public Utility 448,538 2,243
Total Class IV $1,290,198 $6,451
Total Value & Projected
Revenue $3,587,204 $12,194
Less Delinquencies, Exonerations &
Uncollectable Taxes 7.00% 854
Less Tax Discounts (use Total
Projected Revenue to calculate) 2.00% 227
Less Allowance for Tax Increment
Financing (if Applicable) 0
Total Projected Property Tax Collection $11,113
Less Assessor Valuation Fund 2.00% 222
(Subtracted from regular current
expense taxes levied only)
Net Amount to be Raised by
Levy of Property Taxes $10,891
STATE OF WEST VIRGINIA
COUNTY OF Randolph
MUNICIPALITY OF MONTROSE
I, Sharon Bedford, 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 15th day of March, 2022.
Sharon Bedford
(Signature)
Recorder
(Official Title of Recording Officer)
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