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Tax Abatement Schedule prepared for: 14-Aug-07
<br />Green Tech Transfer & Recycling LLC
<br />South Bend Portage Township 10 Year Real Property Abatement Schedule'
<br /> Total estimated Project Cost: $1,608,000
<br /> Base Assessed Value: $1,366,800
<br />(base assessed value is estimated at 85% of project cost)
<br /> Assume constant tax rate of: 5.1524%
<br /> Assume constant SRTC of: 21.6906%
<br /> Assessed Gross Less Net Percent Tax Tax
<br />Year Value Tax SRTC Tax Abated Abated Paid
<br />1 $1,366,800 $70,423 $15,275 $55,148 100% $55,148 $0
<br />2 1,366,800 70,423 15,275 55,148 95% 52,391 2,757
<br />3 1,366,800 70,423 15,275 55,148 80% 44,118 11,030
<br />4 1,366,800 70,423 15,275 55,148 65% 35,846 19,302
<br />5 1,366,800 70,423 15,275 55,148 50% 27,574 27,574
<br />6 1,366,800 70,423 15,275 55,148 40% 22,059 33,089
<br />7 1,366,800 .70,423 15,275 55,148 30% 16,544 38,604
<br />8 1,366,800 70,423 15,275 55,148 20% 11,030 44,118
<br />9 1,366,800 70,423 15,275 55,148 10% 5,515 49,633
<br />10 1,366,800 70,423 15,275 55,148 5% 2,757 52,391
<br /> $551,480 $272,982 $278,498
<br /> Total Taxes Due During Abatement: $551,480
<br /> Total Taxes Abated During Abatement: 272,982
<br /> Total Taxes Paid During Abatement: 278,498
<br />-This schedule is for estimation purposes only and assumes constant tax rates.
<br />The true tax values will ultimately be determined by the actual
<br />assessed valuation and the then current tax rates.
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