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5 YEAR 6-May-20
<br />Bamar Plastics
<br />South Bend Portage Township
<br />Personal Property Tax Abatement Schedule*
<br />Tax Key Number TBD
<br />Current Assessed Value:0
<br />Estimated Project Cost: 647,000
<br />100% 95% 85% 75% 65%
<br />Year 1 Year 2 Year 3 Year 4 Year 5
<br />Current
<br />Assessed Value: AV&Tax
<br />Current Assessed Value 100% 0 0 0 0 0 0
<br />Base Assessed Value 258,800 388,200 355,850 291,150 239,390
<br />Less Abatement Deduction 258,800) 368,790)302,473) 218,363)155,604)
<br />Net Assessed Value 0 0 19,410 53,378 72,788 83,787
<br />Property Taxes:
<br />Assume constant tax rate of 5.0894% 5.0894% 5 0894% 5.0894% 5.0894% 5.0894%
<br />Gross Tax(tax rate x net assessed value)0 0 988 2,717 3,704 4,264
<br />Less Circuit Breaker Credit 0 0 0 0 0 0
<br />Net Tax 0 0 988 2,717 3,704 4,264
<br />Circuit Breaker Cap
<br />Circuit Breaker 3.0000% 0 7,764 11,646 10,676 8,735 7,182
<br />Debt Service 0.0000% 0 0 0 0 0 0
<br />Circuit Braker Cap 0 7,764 11,646 10,676 8,735 7,182
<br />New Combined Net
<br />Existing Project Existing&New Tax Tax
<br />Year Taxes Taxes Taxes Abated Paid
<br />Year 1 0 7,764 7,764 7,764 0
<br />Year2 0 11,646 11,646 10,658 988
<br />Year 3 0 10,676 10,676 7,959 2,717
<br />Year 4 0 8,735 8,735 5,030 3,704
<br />Year 5 0 7,182 7,182 2,918 4,264
<br />Totals 0 46,002 46,002 34,329 11,673
<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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