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5 YEAR <br />BL BUILDERS <br />RESIDENTIAL REAL PROPERTY ABATEMENT SCHEDULE <br />Estimated Project Cost: $60,000.00 <br />Total estimated Project Cost: <br />Assessed Value (1/4 Project Cost): <br />Less Mortgage Exemption: <br />Less Standard Homeowners Deduction: <br />Base Assessed Value: <br />Base Assessed Value: <br />Less Maximum Abatement Deduction: <br />Less Non Abated Amount: <br />Plus Land Assessed Value: <br />Net Assesed Value: <br />Assume constant tax rate of: <br />Gross Tax (tax rate x net assessed value): <br />Less SRTC (15.5201 %): <br />Less Homestead Credit (4 %): <br />Net Tax: <br />Base Assessed <br />Year Value <br />1 $12,000.00 <br />2 12,000.00 <br />3 12,000.00 <br />4 12,000.00 <br />5 12,000.00 <br />Total Taxes <br />$ 60,000.00 <br />15,000.00 <br />(1,000.00) <br />(2,000.00) <br />$12,000.00 <br />$12,000.00 <br />N/A <br />N/A <br />1,006.00 <br />$13,006.00 <br />15.4932% <br />$2,015.05 <br />(312.74) <br />(80.60) <br />$1,621.71 <br />Total <br />Taxes Due <br />$1,621.71 <br />1,621.71 <br />1,621.71 <br />1,621.71 <br />1,621.71 <br />$8,108.53 <br />Tax Paid <br />$60,000.00 <br />15,000.00 <br />(1,000.00) <br />(2,000.00) <br />$12,000.00 <br />$12,000.00 <br />($12,000.00) <br />N/A <br />1,006.00 <br />$1,006.00 <br />15.4932% <br />$155.86 <br />(24.19) <br />(6.23) <br />$125.44 <br />Tax Paid <br />$125.44 <br />125.44 <br />125.44 <br />125.44 <br />125.44 <br />$627.19 <br />13- Feb -96 <br />Tax Abated <br />$60,000.00 <br />15,000.00 <br />(1,000.00) <br />(2,000.00) <br />$12,000.00 <br />$12,000.00 <br />N/A <br />0.00 <br />N/A <br />$12,000.00 <br />15.4932% <br />$1,859.18 <br />(288.55) <br />(74.37) <br />$1,496.27 <br />Tax Abated <br />$1,496.27 <br />1,496.27 <br />1,496.27 <br />1,496.27 <br />1,496.27 <br />$7,481.35 <br />