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Tax Abatement Schedule prepared for:
<br />IMAGINEERING ENTERPRISES, INC.
<br />South Bend German 5 Year Personal Property Abatement Schedule*
<br />Total estimated Equipment Cost: $3,500,000
<br />Assume constant tax rate of: 5.1376
<br />Assume constant SRTC rate of: 7.0636
<br /> TTV Assessed Gross Less Net Percent Tax
<br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated
<br />1 40% 1,400,000 1,400,000 $71,926 5,081 $66,845 100% $66,845
<br />2 56% 1,960,000 1,960,000 $100,697 7,113 $93,584 80% $74,867
<br />3 42% 1,470,000 1,470,000 $75,523 5,335 $70,188 60% $42,113
<br />4 32% 1,120,000 1,120,000 $57,541 4,064 $53,477 40% $21,391
<br />5 24% 840,000 840,000 $43,156 3,048 $40,108 20% $8,022
<br /> $348,843 24,641 $324,202 $213,238
<br />Total Taxes Due During Abatement: $324,202
<br />Total Taxes Abated During Abatement: $213,238
<br />Total Taxes Paid During Abatement: $110,964
<br />8/7/2007
<br />Tax
<br />Paid
<br />$0
<br />$18,717
<br />$28,075
<br />$32,086
<br />$32,086
<br />$110,964
<br />-This schedule is for estimation purposes only and assumes constant tax rates.
<br />The true tax values will ulimately be determined by the actual
<br />assessed valuation and the then current tax rates.
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