FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
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 66,088
Property Taxes – Current Expense 10,342
Gas & Oil Severance Tax 500
Excise Tax on Utilities 3,500
Franchise Fees 2,000
IRP Fees (Interstate Registration Plan) 6,600
Contributions from Other Entities 1,800
Gaming Income 7,100
Video Lottery (LVL) 500
TOTAL ESTIMATED REVENUE
(GENERAL FUND) $98,430
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $3,630
Coal Severance Tax 300
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $3,930
General Coal
Fund Severance
Fund
ESTIMATED CURRENT EXPENDITURES
Recorder’s Office 10,000 –
Custodial 1,650 –
Regional Development Authority 179 –
City Hall 16,201 –
Contributions / Transfers to Other Funds 30,000 –
Contingencies 9,000 –
Fire Department 500 –
Street Lights 2,500 –
Snow Removal 300 –
Parks & Recreation 6,000 3,930
Fair Associations/Festivals 1,500 –
Community Center 15,000
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 $98,430 $3,930
MUNICIPALITY OF MONTROSE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2021 – JUNE 30, 2022
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 $2,073,500 25.00 $5,184
Personal Property 153,190 383
Total Class II $2,226,690 $5,567
CLASS IV
Real Estate $306,790 50.00 $1,534
Personal Property 335,973 1,680
Public Utility 559,330 2,797
Total Class IV $1,202,093 $6,010
Total Value & Projected Revenue $3,428,783 $11,577
Less Delinquencies, Exonerations &
Uncollectable Taxes 7.00% 810
Less Tax Discounts (use Total Projected
Revenue to calculate) 2.00% 215
Less Allowance for Tax Increment
Financing (if Applicable) 0
Total Projected Property Tax Collection $10,551
Less Assessor Valuation Fund 2.00% 211
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $11,340
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
3-29, 4-5