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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: $3,200,000
<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 $1,280,000 $1,280,000 $65,951 $4,645 61,306 100% $61,306 $0
<br />2 0.56 $1,792,000 $1,792,000 $92,331 $6,503 85,828 80% $68,662 $17,166
<br />3 0.42 $1,344,000 $1,344,000 $69,248 $4,877 64,371 60% $38,622 $25,748
<br />4 0.32 $1,024,000 $1,024,000 $52,761 $3,716 49,045 40% $19,618 $29,427
<br />5 0.24 $768,000 $768,000 $39,570 $2,787 36,783 20% $7,357 $29,426
<br /> $319,861 $22,529 297,332 $195,565 $101,767
<br />Total Taxes Due During Abatement: $297,332
<br />Total Taxes Abated During Abatement: $195,565
<br />Total Taxes Paid During Abatement: $101,767
<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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