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Tax Abatement Schedule prepared for: 18-Jul-06
<br />LOCK JOINT TUBE, LLC
<br />South Bend Portage 5-Year Personal Property Abatement Schedule*
<br />Total estimated Equipment Cost: $2,200,000
<br />Assume constant tax rate of: 5.1524
<br />Assume constant SRTC rate of: 7.0433
<br /> TTV Assessed Gross Less Net Percent Tax Tax
<br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated Paid
<br />1 0.4 $880,000 $880,000 $45,341 $3,194 42,147 100% $42,147 $0
<br />2 0.56 $1,232,000 $1,232,000 $63,478 $4,471 59,007 80% $47,206 $11,801
<br />3 0.42 $924,000 $924,000 $47,608 $3,353 44,255 60% $26,553 $17,702
<br />4 0.32 $704,000 $704,000 $36,273 $2,555 33,718 40% $13,487 $20,231
<br />5 0.24 $528,000 $528,000 $27,205 $1,916 25,289 20% $5,058 $20,231
<br /> $219,905 $15,489 204,416 $134,451 $69,965
<br />Total Taxes Due During Abatement: $204,416
<br />Total Taxes Abated During Abatement: $134,451
<br />Total Taxes Paid During Abatement: $69,965
<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.
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