|
Tax Abatement Schedule prepared for: 8/7/2006
<br />FEDERAL MOGUL POWERTRAIN INC.
<br />South Bend German 5 Year Personal Property Abatement Schedule'
<br />Total estimated Equipment Cost: $4,779,000
<br />Assume constant tax rate of: 5.1376
<br />Assume constant SRTG rate of: 7.0636
<br /> TTV Assessed Gross Less Net Percent Tax Tax
<br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated Paid
<br />1 40% 1,911,600 1,911,600 $98,210 6,937 $91,273 100% $91,273 $0
<br />2 56% 2,676,240 2,676,240 $137,495 9,712 $127,783 80% $102,226 $25,557
<br />3 42% 2,007,180 2,007,180 $103,121 7,284 $95,837 60% $57,502 $38,335
<br />4 32% 1,529,280 1,529,280 $78,568 5,550 $73,018 40% $29,207 $43,811
<br />5 24% 1,146,960 1,146,960 $58,926 4,162 $54,764 20% $10,953 $43,811
<br /> $476,320 33,645 $442,675 $291,161 $151,513
<br />Total Taxes Due During Abatement: $442,675
<br />Total Taxes Abated During Abatement: $291,161
<br />Tota! Taxes Paid During Abatement: $151,513
<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 />~ii~d
<br />AUG ~ ~ ~~Q6
<br />~t;pR^~
<br />CR`f CLF"'`'
<br />
|