§ 2-37. Annual levy estimate and financial statement; reconvening of council to hear objections and take further action

(a) Between the days of March 7 and 28 of each and every year, the town council shall meet and ascertain the fiscal condition of the town, and make an itemized statement setting forth:

(1) The amount due and the amount that will become due and collectible from every source during the ensuing fiscal year except from the levy of taxes to be made for the year;

(2) The interest, sinking fund and amortization requirements for the ensuing fiscal year of bonded indebtedness, legally incurred upon a vote of the people as provided by law;

(3) All other expenditures to be paid out of the receipts of the town for the ensuing fiscal year with proper allowance for delinquent taxes, exonerations, and contingencies;

(4) The total amount necessary to be raised by the levy of taxes for the ensuing fiscal year;

(5) The proposed rate of levy in cents on each $100.00 assessed valuation of each class of property;

(6) The separate and aggregate assessed valuations of real, personal and public utility property in each class in the town.

(b) When the foregoing estimate and statement has been prepared, the session shall stand adjourned until the third Tuesday in April, at which time the council shall reconvene.

(Code 1979, § 2-17)

refstatelaw

Levy estimate by municipality, W. Va. Code, § 11-8-14.