FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF NEW CUMBERLAND, 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
Nonspendable Fund Balance $ –
Restricted Fund Balance –
Committed Fund Balance –
Assigned Fund Balance 118,768
Unassigned Fund Balance 300,000
Property Taxes-Current Expense 97,887
Gas & Oil Severance Tax 10,000
Excise Tax on Utilities 52,400
Business and Occupation Tax 118,500
Wine & Liquor Tax 11,200
Sales Tax 150,000
Fines, Fees & Court Costs 4,000
Licenses 4 4,000
Building Permit Fees 1,000
Franchise Fees 27,000
IRP Fees (Interstate Registration Plan) 20,000
Private Liquor Club Fee 20,000
Rents, Royalties and Concessions 1,000
Gaming Income 14,500
Refunds 1,000
Filing Fees 150
Accident Reports 100
Video Lottery 386,000
Miscellaneous Revenues –
TOTAL ESTIMATED REVENUE (GENERAL FUND) $1,337,505
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance 1,000
Coal Severance Tax 3,000
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $4,000
General Fund Coal
Severance
Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 2,584 –
City Council 7,804 –
City Clerk’s Office 58,451 –
Police Judge’s Office 3,754 –
Regional Development Authority 275 –
Elections 3,250
City Hall 457,232 –
Contributions/Transfers to Other Funds 100,000 –
Police Department 187,474 –
Fire Hydrants 16,000 –
Streets and Highways 252,227 4,000
Street Lights 22,500 –
Central Garage 8,000 –
Storm Sewer 88,235 –
Parks & Recreation 10,951 –
Beautification Programs 3,000 –
Capital Projects-General Government 118,768 –
TOTAL ESTIMATED EXPENDITURES $1,337,505 4,000
MUNICIPALITY OF NEW CUMBERLAND, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
Certification of Valuation Levy Taxes
Assessed Value for Rate/$100 Levied
Tax Purposes
CLASS I
Personal Property 0 12.50 0
Public Utility 0 0
Total Class I 0 0
CLASS II
Real Estate $8,978,410 25.00 $22,446
Personal Property 13,980 35
Total Class II $8,992,390 $22,481
CLASS IV
Real Estate $7,870,390 50.00 $39,352
Personal Property 5,789,747 28,949
Public Utility 3,414,531 17,073
Total Class IV $17,074,668 $85,374
Total Value & Projected
Revenue $26,067,058 $107,855
Less Delinquiencies, Exonerations
& Uncollectable Taxes 5.50% 5,932
Less Tax Discounts (use Total Projected
Revenue to calculate) 2.00% 2,038
Less Allowance for Tax Increment
Financing (if Applicable) 0
Total Projected Property
Tax Collection $99,885
Less Assessor Valuation Fund 2.00% 1,998
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy
of Property Taxes $97,887
MUNICIPALITY OF NEW CUMBERLAND, WEST VIRGINIA
Park Board
FISCAL YEAR JULY 1, 2024 – JUNE 30, 2025
Certification of Valuation Levy Taxes
Assessed Value for Rate/$100 Levied
Tax Purposes
CLASS I
Personal Property $0 6.25 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II Real Estate $8,978,410 12.50 $11,223
Personal Property 13,980 17
Total Class II $8,992,390 $11,240
CLASS IV
Real Estate $7,870,390 25.00 $19,676
Personal Property 5,789,747 14,474
Public Utility 3,414,531 8,536
Total Class IV $17,074,668 $42,686
Total Value & Projected Revenue $26,067,058 $53,926
Less Delinquencies, Exonerations &
Uncollectable Taxes 5.50% 2,966
Less Tax Discounts
(use Total Revenue to calculate) 2.00% 1,019
Net Amount to be Raised by Levy for Budget Purposes $49,941
STATE OF WEST VIRGINIA,
COUNTY OF Hancock,
MUNICIPALITY OF NEW CUMBERLAND.
I, Tamera M. Jenkins, 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 11th day of March, 2024
Tamera M. Jenkins
City Clerk
WDT March 18, 25, 2024