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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 0 0
<br />Circuit Braker Cap 11,805 11,805 11,805 11,805 11,805 11,805 11,805
<br />New Combined Net
<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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