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Tax Abatement Schedule prepared for. n-Dec-o~ <br />RYAN. FIREPROTECTION, INC. <br />South Bend German Township 6 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $1,103,650 <br />Base'Assessed Value: $938,103 • <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 5.1376% <br />Assume constant SRTC of: 21.7293% <br />Assessed Gross Less Net Percent 'Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $938,103 $48,196 $10,473 $37,723 100% $37,723 $0 <br />2 938,103 48,196 10,473 37,723 85% 32,065 5,658 <br />3 938,103 48,196 10,473 37,723 66% 24,897 12,826 <br />4 938,103 48,196 _10,473 37,723 50% 18,862 18,861 <br />5 938,103 48,196 .10,473 37,723 34% 12,826 24,897 <br />6 938,103 48,196 10,473 37,723 17% ~ 6,413 31,310 <br /> $226,338 $132,786 $93;552 <br />Total Taxes Due During Abatement: $226,338 <br />Total Taxes Abated During Abatement: 132,786 <br />Total Taxes Paid During Abatement: 93,552 <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 />