FISCAL YEAR JULY 1, 2023- JUNE 30, 2024
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF BENWOOD, 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
Restricted Fund Balance 3,011,290
Assigned Fund Balance 3,068,766
Property Taxes – Current Expense 394,719
Property Taxes – Excess Levy 159,057
Gas & Oil Severance Tax 5,000
Excise Tax on Utilities 75,000
Business and Occupation Tax 750,000
Wine and Liquor Tax 25,000
Animal Control Tax 125
Fines, Fees and Court Costs 80,000
Licenses 15,000
Building Permit Fees 1,500
IRP Fees (Interstate Registration Plan) 20,000
Employee Health Insurance Premium Charges 10,000
Rents, Royalties, and Concessions 163,500
State Government Grants 10,000
Payment in Lieu of Taxes 22,000
Gaming Income 11,000
Interest Earned on Investments 10,000
Reimbursements 12,000
Refunds 5,000
Accident Reports 200
Video Lottery (LVL) 12,300
Miscellaneous Revenues 1,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $7,862,457
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $71,570
Coal Severance Tax 2,722
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $74,292
ESTIMATED CURRENT EXPENDITURES
General Fund Coal Severance
Fund
Mayor’s Office 4,706 –
City Council 11,295 –
Treasurer’s Office 89,794 –
Police Judge’s Office 10,759 –
City Attorney 5,664 –
Custodial 3,813
Regional Development Authority 529 –
Building Inspection 1,800 –
Planning & Zoning 300
Elections 4,000
City Hall 2,500,739 –
Police Department 786,423 –
Fire Department 38,500 –
Dams & Dredging 750
Communication Center/Central Dispatch 218,612
Flood Control / Soil Conservation 17,355
Local Law Enforcement Block Grant 10,000
Streets and Highways 484,937
Street Lights 25,000
Signs & Signals 3,300
Snow Removal 15,906
Central Garage 14,300
Street Cleaning 4,000
Public Transit 140,314
Landfill/Incinerator Department 5,100
Storm Sewer 3,000
Parks & Recreation 215,631
Community Center 16,615
Playgrounds 6,225
Library 11,800
Beautification Programs 200,000 74,292
Capital Projects – General Government 3,011,290
TOTAL ESTIMATED EXPENDITURES $7,862,457 $74,292
MUNICIPALITY Of BENWOOD, WEST VIRGINIA
REGULAR CURRENT EXPENSE LEVY
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
Certificate of Valuation Levy Taxes
Assessed Value Rate/$100 Levied for Tax Purposes
CLASS I
Personal Property $0 12.03 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $7,149,410 24.06 $17,201
Personal Property 0 0
Total Class II $7,149,410 $17,201
CLASS IV
Real Estate $21,612,945 48.12 $104,001
Personal Property 63,824,158 307,122
Public Utility 4,218,028 20,297
Total Class IV $89,655,131 $431,420
Total Value & Projected Revenue $96,804,541 $448,621
Less Delinquencies, Exonerations,
& Uncollectable Taxes 5.00% 22,431
Less Tax Discounts (Use Total
Projected Revenue to calculate) 1.00% 4,262
Less Allowance for Tax Increment
Financing (if Applicable) 20,178
Total Projected Property Tax Collection $401,750
Less Assessor Valuation Fund 1.75% 7,031
(Subtracted from regular current
expense taxes levied only)
Net Amount to be Raised by
Levy of Property Taxes $394,719
MUNICIPALITY OF BENWOOD, WEST VIRGINIA
Excess Levy / Levies
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
Certificate of Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property $0 4.535 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $7,149,410 9.070 $6,485
Personal Property 0
Total Class II $7,149,410 $6,485
CLASS IV
Real Estate $21,612,945 18.140 $39,206
Personal Property 63,824,158 115,777
Public Utility 4,218,028 7,652
Total Class IV $89,655,131 $162,635
Total Value & Projected Revenue $96,804,541 $169,120
Less Delinquencies, Exonerations,
& Uncollectable Taxes 5.00% 8,456
Less Tax Discounts 1.00% 1,607
(use Total Projected Revenue to calculate)
Net Amount to be Raised by Levy For Budget Purposes: $159,057
STATE OF WEST VIRGINIA,
COUNTY OF – MARSHALL
MUNICIPALITY OF – BENWOOD
I, Tiffany Ankrom, 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 4th day of April, 2023.
Tiffany Ankrom
Recorder
Int., March. 31, April 7, 2022