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Tax Abatement Schedule prepared for: 17-Aug-O6 <br />BLK. LLC dlb/a OLD FORT BUILDING SUPPLY <br />South Bend Portage Township 3 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $200,000 <br />Base Assessed Value: $170,000 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 5.1524% <br />Assume constant SRTC of: 21.6906% <br /> Assessed Gross Less Net Percent Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $170,000 $8,759 $1,900 $6,859 100% $6,859 $0 <br />2 170,000 8,759 1,900 6,859 66% 4,527 2,332 <br />3 170,000 8,759 1,900 6,859 33% 2,263 4,596 <br /> $20,577 $13,649 $6,928 <br />Totat Taxes Due During Abatement: $20,577 <br />Total Taxes Abated During Abatement: 13,649 <br />Total Taxes Paid During Abatement: 6,928 <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. <br />