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Thomas Levy Estimate

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0329 0405

FISCAL YEAR JULY 1, 2107 – JUNE 30, 2018
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF THOMAS, WEST VIRGINIA
In accordance with Code § 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
Property Taxes – Current Expense     $    71,807
Gas & Oil Severance Tax         1,748
Excise Tax on Utilities         13,000
Hotel Occupancy Tax        8,100
Licenses        1,400
Building Permit Fees         600
Franchise Fees        1,600
IRP Fees (Interstate Registration Plan)         1,600
Parks & Recreation        4,100
Refuse Collection        36,000
Gaming Income        10,000
Video Lottery (LVL)         96
TOTAL ESTIMATED REVENUE (GENERAL FUND)    $     150,051
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Coal Severance Tax        3,060
TOTAL ESTIMATED REVENUE    $    6,463
(COAL SEVERANCE FUND)
Coal
General        Severance
ESTIMATED CURRENT EXPENDITURES    Fund            Fund
Mayor’s Office        300        –
City Council        500        –
Recorder’s Office        200        –
City Clerk’s Office        16,000        –
City Attorney        250        –
City Auditor        4,300        –
Regional Development Authority        586        –
Data Processing        4,300        –
City Hall        14,000        –
Public Works Department        36,000        –
Streets and Highways        11,215        –
Street Lights        12,000        3,060
Snow Removal        6,200        –
Garbage Department        36,000        –
Parks & Recreation        4,100        –
Visitors Bureau        4,100        –
TOTAL ESTIMATED EXPENDITURES    $    150,051    $    3,060
MUNICIPALITY OF THOMAS, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2017 – JUNE 30, 2018
Certificate of Valuation
Assessed Value        Levy        Taxes
for Tax Purposes        Rate/$100    Levied
CLASS I
Personal Property    $    0        11.64    $    0
Public Utility        0                0
Total Class I    $    0            $    0
CLASS II
Real Estate    $    7,480,020        23.28    $    17,413
Personal Property        10,272                24
Total Class II    $    7,490,292            $    17,437
CLASS IV
Real Estate    $    8,249,260        46.56    $    38,409
Personal Property        2,997,062                13,954
Public Utility        1,826,362                8,504
Total Class IV    $    13,072,684            $    60,867
Total Value & Projected Revenue    $    20,562,976            $    78,304
Less Delinquencies, Exonerations & Uncollectable Taxes            5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}        3,915
Less Tax Discounts (use Total Projected Revenue to calculate)    2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}        1,488
Less Allowance for Tax Increment Financing (if Applicable)                    0
Total Projected Property Tax Collection                    $    72,901
Less Assessor Valuation Fund                1.50{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}        1,094
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes                $    71,807
STATE OF WEST VIRGINIA
COUNTY OF Tucker
MUNICIPALITY OF Thomas
I, Terry Stone, 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 24th day of March, 2017.