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<br /> 5 YEAR
<br /> 31-Jul-13 E. ;" ci
<br /> �; 9 � �Ei
<br /> Data Realty ,_ Q
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<br /> South Bend Portage Township
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<br /> Persona!Property Tax Abatement Schedule" I() z
<br /> 9J
<br /> Tax Key Number 0 1. ,
<br /> Current Assessed Value: 0 3
<br /> Estimated Project Cost: 7,929,766 Y. E
<br /> 40% 60% 55% 45% 37%
<br /> 100% 80% 60% 40% 20%
<br /> Year 1 Year 2 Year 3 Year 4 Year 5
<br /> Current
<br /> Assessed Value: AV&Tax Pay 2013 Pay 2014 Pay 2015 Pay 2016 Pay 2017
<br /> Current Assessed Value 100% 0 0 0 0 0 0
<br /> Base Assessed Value 3,171,906 4,757,860 4,361,371 3,568,395 2,934,013
<br /> '.ess Abatement Deduction (3,171,906) (3,806,288) (2,616,823) (1,427,358) (586,803)
<br /> Net Assessed Value 0 0 951,572 1,744,549 2,141,037 2,347,211
<br /> Property Taxes:
<br /> Assume constant tax rate of 4.8951% 4.8951% 4.8951% 4.8951% 4.8951% 4.8951%
<br /> Gross Tax(tax rate x net assessed value) 0 0 46,580 85,397 104,806 114,898
<br /> Less Circuit Breaker Credit 0 0 0 0 0 (11,050)
<br /> Net Tax 0 0 46,580 85,397 104,806 103,849
<br /> Circuit Breaker Cap
<br /> Circuit Breaker 3.0000% 0 95,157 142,736 130,841 107,052 88,020
<br /> Debt Service 0.6743% 0 0 6,417 11,764 14,438 15,828
<br /> Circuit Braker Cap 0 95.157 149,153 142,605 121,490 103,849
<br /> New Combined Net l co90 19F ire!)A
<br /> Existing Project Existing&New Tax Tax
<br /> Year Taxes Taxes Taxes Abated paid
<br /> Pay 2011 0 116,547 116,547 116,547 0
<br /> Pay2012 0 174,820 174,820 128,240 46,580
<br /> Pay 2013 0 160,252 160,252 74,854 85,397
<br /> Pay 2014 0 131,115 131,115 26,309 104,806
<br /> Pay 2015 0 107,806 107,806 3,957 103,849
<br /> Totals 0 690,540 690540 349,907 340,633 p q Q3"1O
<br /> 'This schedule is for estimation purposes only and assumes constant tax rates. The true tax values J
<br /> will ultimately be determined by the actual assessed valuation and the!hen current tax rates. u.0 �(Y t3 .....p j a-inn.
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