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04-28-08 Council Meeting Agenda & Packet
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04-28-08 Council Meeting Agenda & Packet
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9/12/2012 9:26:17 AM
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4/24/2008 2:09:36 PM
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
4/28/2008
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Tax Abatement Schedule prepared for: 16- Apr -08 <br />Force 5 Media <br />RENTAL PORTION <br />South Bend Portage Township 2 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $250,000 <br />Base Assessed Value: $70,616 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of. 5.1524% <br />Assume constant SRTC of: 21.6906% <br />Total Taxes Due During Abatement: $5,698 <br />Total Taxes Abated During Abatement: 4,274 <br />Total Taxes Paid During Abatement: 1,425 <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 />Assessed <br />Gross Less <br />Net <br />Percent <br />Tax <br />Tax <br />Year <br />Value <br />Tax SRTC <br />Tax <br />Abated <br />Abated <br />Paid <br />1 <br />$70,616 <br />$3,638 $789 <br />$2,849 <br />100% <br />$2,849 <br />$0 <br />2 <br />70,616 <br />3,638 789 <br />2,849 <br />50% <br />1,425 <br />1,425 <br />3 <br />0 <br />0 0 <br />0 <br />0% <br />0 <br />0 <br />$5,698 <br />$4,274 <br />$1,425 <br />Total Taxes Due During Abatement: $5,698 <br />Total Taxes Abated During Abatement: 4,274 <br />Total Taxes Paid During Abatement: 1,425 <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 />
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