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Tax Abatement Schedule prepared for: 8-1=eb-o8 <br />JADE ELEPHANT HOLDING, LLC <br />(LAKE MICHIGAN MAILERS, INC.) . <br />Soufh Bend German Township 4 Year Real Property Abatement Schedule" <br />Total estimated Project Cost: $720,000 <br />Base Assessed Value: $612,000 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 5.1376% <br />Assume constant SRTC of: 21.7293% <br /> Assessed Gross <br />Year Value Tax <br />1 $612,000 $31,442 <br />2 612,000 31,442 <br />3 612,000 31,442 <br />4 612,000 31,442 <br />Less Net Percent Tax Tax <br />SRTC Tax Abated Abated Paid <br />$6,832 $24,610 100% $24,610 $0 <br />6,832 24,610 75% 18,458 6,152 <br />6,832 24,610 50% 12,305 12,305 <br />6,832 24,610 25% 6,153 18,457 <br /> $98,440 $61,526 $36,914 <br />Total Taxes Due During Abatement: <br />Total Taxes Abated During Abatement: <br />Total Taxes Paid During Abatement: <br />$98,440 <br />61,526 <br />36, 914 <br />• -This schedule is for estimation purposes only and assumes constant tax rates. <br />The true tax values wil{ ultimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />Fib^~ ~;~ ~~~..;: ~ . <br />G ~ ~ ~ ~ ~~ :~13 <br />JOi~N VOa~~c <br />Cl'fY CL~i"~C, 0. icPla, I!`I. <br />