|
Tax Abatement Schedule prepared for: 5/5/2006
<br />McCormick & Company, Inc.
<br />South Bend German 5 Year Personal Property Abatement Schedu/e*
<br />Total estimated Equipment Cost: $13,989,120
<br />Assume constant tax rate of: 4.874
<br />Assume constant SRTC rate of: 7.9223
<br /> TTV Assessed Gross Less Net Percent lax Tax
<br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated Paid
<br />1 40% 5,595,648 5,595,648 $272,732 21,607 $251,125 100% $251,125 $0
<br />2 56% 7,833,907 7,833,907 $381,825 30,249 $351,576 80% $281,261 $70,315
<br />3 42% 5,875,430 5,875,430 $286,368 22,687 $263,681 60% $158,209 $105,472
<br />4 32% 4,476,518 4,476,518 $218,186 17,285 $200,901 40% $80,360 $120,540
<br />5 24% 3,357,389 3,357,389 $163,639 12,964 $150,675 20% $30,135 $120,540
<br /> $1,322,750 104,792 $1,217,958 $801,090 $416,868
<br /> Total Taxes Due During Abatement: $1,217,958
<br /> Total Taxes Abated During Abatement: $801,090
<br /> Total Taxes Paid During Abatement: $416,868
<br />" -This schedule is for estimation purposes only and assumes constant tax rates.
<br />The true tax values will ulimately be determined by the actual
<br />assessed valuation and the then current tax rates.
<br />r,*• 1~
<br />~,rt~'~'~~ ~~tetC
<br />ilex ~
<br />S ", E~~ ~ 2 ~~~6
<br />_---~
<br />J C•' ~ ~ ,r"V 5
<br />Ci~ C`.Li'iF .s .i~ ,~.~-~'~
<br />
|