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Tax Abatement Schedule prepared for: 2/8/2008
<br />LAKE MICHIGAN MAILERS
<br />(JADE ELEPHANT HOLDING, LLC)
<br />WITHOUT VEHICLE
<br />South Bend German 5 Year Personal Property Abatement Schedule*
<br />Total estimated Equipment Cost: $1,150,873
<br />Assume constant tax rate of: 5.1376
<br />Assume constant SRTC rate of: 7.0636
<br />Total Taxes Due During Abatement: $106,605
<br />Total Taxes Abated During Abatement: $70,117
<br />Total Taxes Paid During Abatement: $36,488
<br />. - This schedule is for estimation purposes only and assumes constant tax rates.
<br />The true tax values will ultimately be determined by the actual
<br />assessed valuation and the then current tax rates.
<br />\N.
<br />TTV
<br />Assessed
<br />Gross
<br />Less
<br />Net
<br />Percent
<br />Tax
<br />Tax
<br />Year
<br />TTV%
<br />(Year 1 -5)
<br />Value
<br />Tax
<br />SRTC
<br />Tax
<br />Abated
<br />Abated
<br />Paid
<br />1
<br />40%
<br />460,349
<br />460,349
<br />$23,651
<br />1,671
<br />$21,980
<br />100%
<br />$21,980
<br />$0
<br />2
<br />56%
<br />644,489
<br />644,489
<br />$33,111
<br />2,339
<br />$30,772
<br />80%
<br />$24,618
<br />$6,154
<br />3
<br />42%
<br />483,367
<br />483,367
<br />$24,833
<br />1,754
<br />$23,079
<br />60%
<br />$13,847
<br />$9,232
<br />4
<br />32%
<br />368,279
<br />368,279
<br />$18,921
<br />1,337
<br />$17,584
<br />40%
<br />$7,034
<br />$10,551
<br />5
<br />24%
<br />276,210
<br />276,210
<br />$14,191
<br />1,002
<br />$13,189
<br />20%
<br />$2,638
<br />$10,551
<br />$114,707
<br />8,102
<br />$106,605
<br />$70,117
<br />$36,488
<br />Total Taxes Due During Abatement: $106,605
<br />Total Taxes Abated During Abatement: $70,117
<br />Total Taxes Paid During Abatement: $36,488
<br />. - This schedule is for estimation purposes only and assumes constant tax rates.
<br />The true tax values will ultimately be determined by the actual
<br />assessed valuation and the then current tax rates.
<br />\N.
<br />
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