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Confirming Tax Abatement - Lock Joint Tube, LLC 1217 S. Walnut Street (5 Yr. Personal Property)
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Confirming Tax Abatement - Lock Joint Tube, LLC 1217 S. Walnut Street (5 Yr. Personal Property)
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Last modified
9/12/2012 10:25:51 AM
Creation date
6/8/2012 11:28:38 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
5/29/2012
Ord-Res Number
4186-12
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13. List the real and personal property taxes paid at the location during the previous five years, <br />whether paid by the current owner or a previous owner: <br />YEAR REAL PROPERTY TAXES PERSONAL PROPERTY TAXES <br />2011 <br />$36,358 <br />$102,254 <br />2010 <br />$35,326 <br />$100,183 <br />2009 <br />$39,636 <br />$ 91,301 <br />2008 <br />$43,107 <br />$ 81,291 <br />2007 <br />$ 28,597 <br />(This information may be obtained from the St. Joseph County Treasurer's office 235- 9531.) <br />14. Describe the commitment made within the past five years by your firm to hiring minority <br />individuals, including number of minorities employed during each of the past five years, <br />specifying whether full time or part-time and whether permanent of temporary employees. <br />The Petitioner shall also list the current number of total employees (full and part-time) and <br />the current number of minority individuals (full and part- time). <br />*Year Total Minority <br />Employees Total <br />2011 56 14 <br />Minority Minority <br />Full -Time Part -Time <br />14 <br />2010 47 9 9 0 <br />2009 45 8 8 0 <br />2008 38 6 6 0 <br />2007 45 5 5 0 <br />*These numbers reflect employment at Petitioner's Walnut Street location. <br />15. Describe on -site child care of day care facilities, services or benefits currently offered or <br />proposed to be offered by the Petitioner for children of employees. None. <br />16. What is your best estimate of the market value of the new Equipment after installation? <br />The market value of Petitioner's equipment is estimated to be in excess of $8,000,000. <br />17. What is your best estimate of the amount of taxes to be abated during each of the five years <br />after installation? The following estimates are based on equipment installations with a cost <br />of $8,500,000 and a 3.5% tax rate (for purposes of the estimate of taxes to be abated) <br />Year Estimated Dollar Amount <br />1 $119,000 <br />2 $133,280 <br />3 $74,970 <br />4 $38,080 <br />5 $17,850 <br />
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