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5 YEAR 6-May-20
<br /> Midwest Family
<br /> South Bend Portage Township
<br /> Vacant Building Real Property Tax Abatement Schedule*
<br /> Tax Key Number 018-3092-3518
<br /> Current Assessed Value: 393,500
<br /> Estimated Project Cost: 0
<br /> Current Without 100% 100% 100% 100% 100%
<br /> Assessed Value: AV&Tax Abatement Year 1 Year 2 Year 3 Year 4 Year 5
<br /> Current Assessed Value 100% 393,500 393,500 393,500 393,500 393,500 393,500 393,500
<br /> Base Assessed Value 100% 0 0 0 0 0 0
<br /> Less Abatement Deduction 0 0 0 0 0 0
<br /> Net Assessed Value 393,500 393,500 393,500 393,500 393,500 393,500 393,500
<br /> Property Taxes:
<br /> Assume constant tax rate of 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894%
<br /> Gross Tax(tax rate x net assessed value) 20,027 20,027 20,027 20,027 20,027 20,027 20,027
<br /> Less Circuit Breaker Credit (8,222) (8,222) (8,222) (8,222) (8,222) (8.222) (8,222)
<br /> Net Tax 11,805 11,805 11,805 11,805 11,805 11,805 11,805
<br /> Circuit Breaker Cap
<br /> Circuit Breaker 3.0000% 11,805 11,805 11,805 11,805 11,805 11,805 11,805
<br /> Debt Service 0.0000% 0 0 0 0 0 o 0
<br /> Circuit Braker Cap 11,805 11,805 11,805 11,805 11.805 1 1,805 11,805
<br /> New Combined Nel
<br /> Existing Project Existing&New Tax Tax
<br /> Year Taxes Taxes Taxes Abated Paid
<br /> 1 11,805 0 11,805 0 11,805
<br /> 2 11,805 0 11,805 0 11,805
<br /> 3 11,805 0 11,805 0 11,805
<br /> 4 11,805 0 11,805 0 11,805
<br /> 5 11,805 0 11,805 0 11,805
<br /> Totals 59,025 0 59,025 0 59,025
<br /> 'This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
<br /> will ultimately be determined by the actual assessed valuation and the then current tax rates.
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