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5 YEAR 6-May-20
<br /> Midwest Family
<br /> South Bend Portage Township
<br /> Real Property Tax Abatement Schedule*
<br /> Tax Key Number 71-018-55348-00
<br /> Current Assessed Value: 0
<br /> Estimated Project Cost: 2,450,600
<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% 0 0 0 0 0 0 0
<br /> Base Assessed Value 80% 1,960,480 1,960,480 1,960,480 1,960,480 1,960,480 1,960,480
<br /> Less Abatement Deduction 0 (1,960,480) (1,960,480) (1,960,480) (1,960,480) (1,960,480)
<br /> Net Assessed Value 0 1.960,480 0 0 0 0 0
<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) 0 99,776 0 0 0 0 0
<br /> Less Circuit Breaker Credit 0 (40,961) 0 0 0 0 0
<br /> Net Tax 0 58,814 0 0 0 0 0
<br /> Circuit Breaker Cap
<br /> Circuit Breaker 3.0000% 0 58,814 58,814 58,814 58,814 58,814 58,814
<br /> Debt Service 0.0000% 0 0 0 0 0 0 0
<br /> Circuit Braker Cap 0 58,814 58.814 58,814 58,814 58,814 58,814
<br /> New Combined Net
<br /> Existing Project Existing&New Tax Tax
<br /> Year Taxes Taxes Taxes Abated Paid
<br /> 1 0 58,814 58,814 58,814 0
<br /> 2 0 58,814 58,814 58,814 0
<br /> 3 0 58,814 58,814 58,814 0
<br /> 4 0 58,814 58,814 58,814 0
<br /> 5 0 58,814 58,814 58,814 0
<br /> Totals 0 294,072 294,072 294,072 0
<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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