|
April 16,2024
<br /> Aunalytics, Inc.
<br /> South Bend Portage Township
<br /> Personal Property Tax Abatement Schedule*
<br /> Estimated Equipment Cost: $ 30,000,000
<br /> Asset Pool: Pool#2(5-8 years)
<br /> Property Address: 1440 Ignition Drive
<br /> Tax Key Number: TBD
<br /> Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8
<br /> Assessed Value(AV)
<br /> True Tax Value(TTV) 40% 56% 42% 32% 24% 18% 15% 0%
<br /> New Base(Equipment Cost x TTV) 12,000,000 16,800,000 12,600,000 9,600,000 7,200,000 5,400,000 4,500,000 -
<br /> Abatement 100% 100% 100% 100% 100% 100% 100% 100%
<br /> Abatement Deduction (12,000,000) (16,800,000) (12,600,000) (9,600,000) (7,200,000) (5,400,000) (4,500,000)Net Assessed Value - - - - - - - -
<br /> Estimated Property Taxes Without Abatement
<br /> Assume constant tax rate of 5.3548%
<br /> Gross Tax(Tax Rate x Net AV) 642,576 899,606 674,705 514,061 385,546 289,159 240,966 -
<br /> Debt Service(0.3840%of Net AV) 46,080 64,512 48,384 36,864 27,648 20,736 17,280 -
<br /> Local Tax Credit(12.3682%of GT-DS) (73,776) (103,286) (77,465) (59,021) (44,265) (33,199) (27,666) -
<br /> Circuit Breaker Credit (208,800) (292,320) (219,240) (167,040) (125,280) (93,960) (78,300) -
<br /> Tax Liability $ 406,080 $ 568,512 $ 426,384 $ 324,864 $ 243,648 $ 182,736 $ 152,280 $ -
<br /> Circuit Breaker Cap 3% 3% 3% 3% 3% 3% 3% 3%
<br /> 360.000 504,000 378.000 288,000 216,000 162,000 135,000 -
<br /> Year Abatement New Tax Taxes Taxes Abated NePProjTaadxes
<br /> 1 100% $ 406,080 $ (406,080) $ -
<br /> 2 100% 568,512 (568,512) Filed in Clerk's Office
<br /> 3 100% 426,384 (426,384) -
<br /> 4 100% 324,864 (324,864) -
<br /> 5 100% 243,648 (243,648) - APR 1 7 2024
<br /> 6 100% 182,736 (182,736) -
<br /> 7 100% 152,280 (152,280)100% Bianca Tirado
<br /> 8
<br /> - - -Total: 2,304,504 (2,304,504) City Clerk, South Bend, IN
<br /> This schedule is for estimation purposes only and assumes constant tax rates equal to those for 2023 Payable 2024.
<br /> The true tax values will ultimately be determined by the actual assessed valuation and the then current tax rates.
<br /> Department of Community Investment
<br /> l City of South Bend
<br />
|