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Tax Abatement Schedule prepared for: 16-Apr-O8 <br />Force 5 Media <br />RENTAL PORTION <br />Soufh 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 />Assessed Gross Less Net Percent Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $70,616 $3,638 $789 $2,849 100% $2,849 $0 <br />2 70,616 3,638 789 2,849 50% 1,425 1,425 <br />3 0 0 0 0 0% 0 0 <br />$5,698 $4,274 $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 t ax rates. <br />The true tax values will ultimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />