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2001-2 County Budget
| CID 12-20 |
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REGULAR (CURRENT EXPENSE) LEVY RATES FOR PROPERTY TAX PURPOSES |
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| W. VA. Code § 11-8-6e requires county commissions and municipalities to reduce (roll-back) levy rates for property tax purposes when an annual appraisal or general valuation of property would cause an increase in projected property tax revenues for regular (current expense) levies of more than 1%. The reduced levy rates must produce no more than 101% of the previous year's projected tax revenue plus an additional percent to fund the
on-going work of the assessor. The reduced rate may be increased if a public hearing is conducted. Any such increase cannot exceed the previous year's projected property tax revenue by more than 10%, plus a percent to fund the on-going work of teh assessor. However, under no circumsances can teh levy rates exceed the maximums authorized under W. Va. Code § 11-8-6b for county commissions which are: Class 1-14.3; Class II-28.6; Classes III & IV-57.2. In the case of municipality the maximum levy rate authorized by W.Va. Code § 11-8-6d are
Class I-12.5; Class II-25; and Class IV-50. |
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| It is important to note that when calculating the reduced (rolled-back) levy rates the values reflected on the form ROLL BACK must be used. Once the reduced (rolled-back) rates have been calculated and in order to complete the Levy Page (page 3) the rate must be applied to the values reflected on the Certificate of Valuations form STC 12:40 (revised 12/99). |
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| WORKSHEET |
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| TO DETERMINE REDUCED (ROLLED BACK) LEVY RATE |
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ENTER FORM ROLL BACK Assessed Value for Calculating Reduced (Roll) Back Levy Rate |
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Weighting |
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Weighted Assessed Values |
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| Total Class I |
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$105,439,890 |
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X |
0.01 |
= |
$1,054,399 |
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| Total Class II |
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979,724,149 |
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X |
0.02 |
= |
$19,594,483 |
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| Total Class III |
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614,952,172 |
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X |
0.04 |
= |
$24,598,087 |
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| Total Class IV |
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255,349,265 |
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X |
0.04 |
= |
$10,213,971 |
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| TOTAL |
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$1,955,465,476 |
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Total weighted assessed values |
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$55,460,939 |
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| 7,010,433 |
X |
0.02 |
1.01 |
= |
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1.03 |
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Divided By |
$55,460,939 |
x100 |
Calculated Rate: |
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| Enter total projected property tax revenue (Levy page 3 2001-2002 Budget Document) |
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Enter Rate for Assessor Here: For example: 1.5% = .015 2% = .02 and 3% = .03 |
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Total % for rate Calculation - For Ex: 1.025, 1.03, 1.04 |
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Total Weighted Assessed Value (above) |
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13.02 |
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Class I Levy Rate |
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** If calculated rate exceeds statutory max of 14.3 do not use more than max |
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Class II Levy Rate = |
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2 |
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13.02 |
cents = |
26.04 |
cents |
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Class I Levy Rate |
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Class III and/or Class IV Levy Rate = |
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4 |
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13.02 |
cents = |
52.08 |
cents |
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Class I Levy Rate |
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| Page 2 |
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* Do not use rate in excess of two decimal points |
REMEMBER: |
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Maintain a 1:2:4 ratio. Due to rounding, the formula sometimes does not maintain a 1:2:4 ratio |
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| LEVY PAGE |
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| For the Fiscal Year Ended June 30,2002 |
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| County of Berkeley |
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| ASSESED VALUATIONS - PROPOSED LEVY RATES AND TAXES LEVIED FOR ALL PURPOSES |
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| THE AMOUNT REFLECTED IN COLUMN E ON THE CERTIFICATES OF VALUATIONS SHOULD BE USED ON THE LEVY PAGE. |
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Current Expense |
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Excess Levy |
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Bond Purpose |
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Enter Column E from Certificate of Valuations Tax Purposes |
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Levy Rate/ $100 |
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Taxes Levied |
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Levy Rate/ $100 |
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Taxes Levied |
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Levy Rate/ $100 |
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Taxes Levied |
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| Class I Property |
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| Personal Property |
$104,719,786 |
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13.02% |
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136,345 |
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$0 |
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$0 |
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| Public Utilities |
$1,827,310 |
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13.02% |
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$2,379 |
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$0 |
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$0 |
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| Total Class I |
$106,547,096 |
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$138,724 |
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$0 |
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$0 |
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| Class II Property |
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| Real Estate |
$1,017,435,354 |
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26.04% |
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$2,649,402 |
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$0 |
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$0 |
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| Personal Property |
$9,335,524 |
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26.04% |
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$24,310 |
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$0 |
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$0 |
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| Total Class II |
$1,026,770,878 |
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$2,673,711 |
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$0 |
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$0 |
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| Class III Property |
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| Real Estate |
$304,764,038 |
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52.08% |
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$1,587,211 |
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$0 |
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$0 |
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| Personal Property |
$272,031,859 |
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52.08% |
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$1,416,742 |
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$0 |
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$0 |
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| Public Utilities |
$68,983,475 |
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52.08% |
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$359,266 |
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$0 |
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$0 |
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| Total Class III |
$645,779,372 |
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$3,363,219 |
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$0 |
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$0 |
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| Class IV Property |
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| Real Estate |
$158,660,747 |
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52.08% |
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$826,305 |
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$0 |
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$0 |
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| Personal Property |
$74,587,721 |
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52.08% |
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$388,453 |
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$0 |
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$0 |
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| Public Utilities |
$27,202,858 |
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52.08% |
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$141,672 |
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$0 |
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$0 |
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| Total Class IV |
$260,451,326 |
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$1,356,431 |
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$0 |
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$0 |
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| TOTAL ASSESSED VALUE |
$2,039,548,672 |
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| TOTAL PROJECTED PROPERTY REVENUE |
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$7,532,085 |
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* |
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enter % here |
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* (Total Amount to |
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| *Less 112, 113, 239 (box lower left) |
3% |
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$225,963 |
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be Raised from |
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Municiple Bond |
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| Less 302 - Tax Discounts |
2% |
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$150,642 |
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Commission letter) |
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| Total Projected Tax Collection |
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$7,155,481 |
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| Less Assessor Valuation Fund |
2% |
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$143,110 |
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| (Subtracted from current expense taxes levied only) |
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| Net Amount to be raised by Levy of Property Taxes |
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$7,012,371 |
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| (To #301-01 on page 4) |
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| *112 Uncollectable Taxes |
$65,000 |
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Total Current Excess Levy |
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| *113 Exonerations |
$110,000 |
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If Excess Levy is to be included in the General Fund, this total should be shown in account |
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| * 239 Delinquencies |
$50,963 |
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#301-01 on page 4 |
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| Page 3 |
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Check One: |
[ ] The excess levy is part of general fund |
[ ] The excess levy is a separate fund |
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| BERKELEY COUNTY REVENUES |
| General Fund |
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| 01 GENERAL FUND REVENUE SUMMARY |
Budgeted Revenues 2000-2001 |
Budgeted Revenue 2001-2002 |
APPROVED REVISIONS |
| 280 Reserve for Encumbrances |
$ 624,929 |
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| 299 Unencumbered Fund Balance (July 1) |
$ 1,544,005 |
$ 600,000 |
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| 301-01 Property Taxes - Current Year (from Page 3 Net) |
$ 6,526,593 |
$ 7,012,371 |
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| 301-02-05 Prior Year Taxes |
$ 325,000 |
$ 400,000 |
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| 301-06 Supplemental Taxes |
$ 90,000 |
$ 90,000 |
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| 301-07 Surplus |
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| 301-08 Delinquent & Nonentered Land Fund |
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| 301-09 Redemptions from State Auditor |
$ 5,000 |
$ 6,000 |
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| 301-10 Prior Years Fifth and Other Prior Years |
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| 302 Tax Penalties, Interest & Publication Fees |
$ 120,000 |
$ 142,000 |
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| 303 Dog Taxes |
$ 40,000 |
$ 41,000 |
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| 304 Property Transfer Tax |
$ 340,000 |
$ 490,000 |
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| 306 Gas and Oil Severance Tax |
$ 9,000 |
$ 9,000 |
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| 307 Horse and Dog Racing Tax |
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| 308 Wine & Liquor Tax |
$ 40,000 |
$ 45,000 |
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| 309 Hotel Occupancy Tax |
$ 200,000 |
$ 200,000 |
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| 310 Insurance Premium Surtax |
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| 311 Payment in Lieu of Taxes |
$ 78,519 |
$ 80,519 |
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| 312 Open |
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| 313 Open |
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| 314 Open |
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| 315 Open |
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| 316 Open |
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| 317 Licenses |
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| 318 Building Permits |
$ 182,000 |
$ 242,000 |
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