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Tax Abatement Schedule prepared for: ~~-Jul-os
<br />HURON PARTNERS, L.P.
<br />South Bend German Township 9-Year Real Property Abatement Schedule'
<br />Total estimated Project Cost: $5,000,000
<br />Base Assessed Value: $4,250,000
<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 $4,250,000 $218,348 $47,445 $170,903 100% $170,903 $0
<br />2 4,250,000 218,348 47,445 170,903 88% 150,395 20,508
<br />3 4,250,000 218,348 47,445 170,903 77% 131,595 39,308
<br />4 4,250,000 218,348 47,445 170,903 66% 112,796 58,107
<br />5 4,250,000 218,348 47,445 170,903 55% 93,997 76,906
<br />6 4,250,000 218,348 47,445 170,903 44% 75,197 95,706
<br />7 4,250,000 218,348 47,445 170,903 33% 56,398 114,505
<br />8 4,250,000 218,348 47,445 170,903 22% 37,599 133,304
<br />9 4,250,000 218,348 47,445 170,903 11% 18,799 152,104
<br /> $1,538,127 $847,679 $690,448
<br /> Total Taxes Due During Abate ment: $1,538,127
<br /> Total Taxes Abated During Abatement: 847,679
<br /> Total Taxes Paid During Abatement: 690,448
<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.
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