FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
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 86,566
Property Taxes – Current Expense 11,518
Tax Loss Restoration 150
Gas & Oil Severance Tax 850
Excise Tax on Utilities 1,800
Franchise Fees 1,500
IRP Fees (Interstate Registration Plan) 8,500
Contributions from Other Entities 300
Gaming Income 12,000
Refunds 10
Video Lottery (LVL) 600
TOTAL ESTIMATED REVENUE (GENERAL FUND) $123,794
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $1,762
Coal Severance Tax 400
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $2,162
General Coal Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Economic Development $- $-
Recorder’s Office 9,000 –
Custodial 1,650 –
Regional Development Authority 179 –
City Hall 10,000 –
Contributions / Transfers to Other Funds 30,000 –
Contingencies 9,000 –
Fire Department 500 –
Street Lights 2,500 –
Snow Removal 600 –
Parks & Recreation 3,000 2,162
Fair Associations/Festivals 1,500 –
Community Center 15,000 –
Youth Program 1,865 –
Playgrounds 30,000 –
4-H Camp 500 –
Rails to Trails 500 –
Beautification Programs 5,000 –
Cemeteries 1,000 –
Social Services 1,000 –
Human Resources 1,000 –
TOTAL ESTIMATED EXPENDITURES $123,794 $2,162
MUNICIPALITY OF MONTROSE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
Certificate of Valuation
Assessed ValueLevyTaxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $0 12.42$ 0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $2,296,350 24.84 $5,704
Personal Property 149,170 371
Total Class II $2,445,520 $6,075
CLASS IV
Real Estate $369,930 49.68 $1,838
Personal Property 519,035 2,579
Public Utility 483,830 2,404
Total Class IV $1,372,795 $6,820
Total Value & Projected Revenue $3,818,315 $12,895
Less Delinquencies, Exonerations & Uncollectable Taxes 7.00% 903
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00% 240
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $11,752
Less Assessor Valuation Fund 2.00% 235
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $11,517
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 7th day of March, 2023
Sharon Bedford
Signature
Recorder
Official Title of Recording Officer
3/30, 4/6