FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
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 56,670
Property Taxes – Current Expense 11,558
Gas & Oil Severance Tax 570
Excise Tax on Utilities 2,900
Franchise Fees 1,800
IRP Fees (Interstate Registration Plan) 6,100
Contributions from Other Entities 500
Gaming Income 10,300
Video Lottery (LVL) 450
TOTAL ESTIMATED REVENUE
(GENERAL FUND) $90,848
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $3,159
Coal Severance Tax 480
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $3,639
General Coal
Fund Severance
Fund
ESTIMATED CURRENT EXPENDITURES
Recorder’s Office 14,850 –
Custodial 1,650 –
Regional Development Authority 179 –
City Hall 18,769 –
Contributions / Transfers to Other Funds 30,000 –
Contingencies 9,000 –
Fire Department 500 –
Street Lights 2,500 –
Snow Removal 300 –
Parks & Recreation 6,000 3,639
Fair Associations/Festivals 1,500 –
Youth Program 500 –
Playgrounds 2,000 –
4-H Camp 500 –
Beautification Programs 600 –
Cemeteries 500 –
Social Services 1,000 –
Human Resources 500 –
TOTAL ESTIMATED EXPENDITURES $90,848 $3,639
MUNICIPALITY OF MONTROSE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
Certificate of
Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $0 12.50 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II
Real Estate $2,067,610 25.00 $5,169
Personal Property 153,916 385
Total Class II $2,221,526 $5,554
CLASS IV
Real Estate $311,170 50.00 $1,556
Personal Property 428,932 2,145
Public Utility 737,103 3,686
Total Class IV $1,477,205 $7,386
Total Value & Projected Revenue $3,698,731 $12,940
Less Delinquencies, Exonerations &
Uncollectable Taxes 7.00% 906
Less Tax Discounts (use Total Projected
Revenue to calculate) 2.00% 241
Less Allowance for Tax Increment
Financing (if Applicable) 0
Total Projected Property Tax Collection $11,793
Less Assessor Valuation Fund 2.00% 236
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $11,558
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 10th day of March, 2020.
Sharon Bedford
Recorder
3-27, 4-3