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Tax Abatement Schedule prepared for: 23-May-os <br />Precision Millwork & Plastics, Inc. <br />South Bend German Township 3 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $250,000 <br />Base Assessed Value: $212,500 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 4.8740% <br />Assume constant SRTC of: 21.6527% <br /> Assessed Gross Less Net Percent Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $212,500 $10,357 $2,243 $8,114 100% $8,114 $0 <br />2 212,500 10,357 2,243 8,114 66% 5,355 2,759 <br />3 212,500 10,357 2,243 8,114 33% 2,678 5,436 <br /> $24,342 $16,147 $8,195 <br />Total Taxes Due During Abatement: $24,342 <br />Total Taxes Abated During Abatement: 16,147 <br />Total Taxes Paid During Abatement: 8,195 <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. <br />