|
5 YEAR
<br />29-Nov-10
<br />G.H.S Corporation d/b/a GHS Strings
<br />South Bend German Township
<br />Personal Property Tax Abatement Schedule*
<br />Tax Key Number
<br />Current Assessed Value:
<br />Estimated Project Cost:
<br />25-1011-0187
<br />0
<br />1,000,000
<br />40% 60%
<br />100% 80%
<br />Year1 Year2
<br />55% 45% 37%
<br />60% 40% 20%
<br />Year 3 Year 4 Year 5
<br /> Current
<br />Assessed Value: AV & Tax Pav 2011 Pav 2012 Pav 2013 Pay 2014 Pay 2015
<br />Current Assessed Value 100% 0 0 0 0 0 0
<br />Base Assessed Value 400,000 600,000 550,000 450,000 370,000
<br />Less Abatement Deduction (400,000) (480,000) (330,000) (180,000) (74,000)
<br />Net Assessed Value 0 0 120,000 220,000 270,000 296,000
<br />Prooertv Taxes:
<br />Assume constant tax rate of 4.4232% 4.4232% 4.4232% 4.4232% 4.4232% 4.4232%
<br />Gross Tax (tax rate x net assessed value)
<br />Less Circuit Breaker Credit
<br />Net Tax
<br />Circuit Breaker Cap
<br />Circuit Breaker
<br />Debt Service
<br />Circuit Braker Cap
<br />0 0 5,308 9,731 11,943 13,093
<br />0 0 0 0 0 (498)
<br />0 0 5,308 9,731 11,943 12,595
<br />3.0000% 0 12,000 18,000 16,500 13,500 11,100
<br />0.5051% 0 0 606 1,111 1,364 1,495
<br />0 12, 000 18, 606 17, 611 14, 864 12, 595
<br /> New Combined Net
<br /> Existing Project Existing & New Tax Tax
<br />Year Taxes Taxes Taxes Abated Paid
<br />Pay 2011 0 14,020 14,020 14,020 0
<br />Pay 2012 0 21,031 21,031 15,723 5,308
<br />Pay 2013 0 19,278 19,278 9,547 9,731
<br />Pay 2014 0 15,773 15,773 3,830 11,943
<br />Pay 2015 0 12,969 12,969 374 12,595
<br />Totals 0 83,071 83,071 43,494 39,577
<br />"This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates.
<br />
|