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Tax Estimates <br /> The petitioner qualifies for a five-year(5) personal property tax abatement. <br /> • Estimated personal property taxes on the new equipment during the five-year(5) <br /> abatement period: $80,573 <br /> o Estimated taxes being abated during the abatement period: $68,651 <br /> o Estimated taxes to be paid during the abatement period: $11,922 <br /> Abatement Qualification <br /> 1. A review of the tax abatements previously granted finds that the petitioner has not been <br /> granted or is associated with a previous abatement. <br /> 2. The property is properly zoned for the proposed project. <br /> 3. Taxes on the property have been paid in full. <br /> 4. A review of the South Bend Redevelopment designation areas finds that the property is <br /> in the River West Development Area. <br /> 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets <br /> the qualifications for a 5-year personal property tax abatement under Division 10 <br /> (Personal Property Tax Abatement), Section 2-84.2 (Tangible Personal Property Tax <br /> Abatement). <br /> 2 <br />