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Tax Abatement Schedule prepared for:
<br />GTA Containers
<br />South Bend Portage 5 Year Personal Property Abatement Schedule*
<br />Existing AV 330,930
<br />Total estimated Equipment Cost: 400,000
<br />Assume constant tax rate of: 4.9205%
<br />Assume constant SRTC rate of: 6.4091
<br /> TTV Assessed
<br />Year TTV% Year 1-5 Value
<br />1 0.40 $160,000 $160,000
<br />2 0.56 $224,000 $224,000
<br />3 0.42 $168,000 $168,000
<br />4 0.32 $128,000 $128,000
<br />5 0.24 $96,000 $96,000
<br />11-Jul-08
<br /> Total Taxes
<br />Gross Less Net Percent Tax Tax Existing Old & New
<br />Tax SRTC Tax Abated Abated Paid Tax Paid
<br />$7,873 $505 7,368 100% $7,368 $0 15,240 15,240
<br />$11,022 $706 10,316 80% $8,252 $2,063 15,240 17,303
<br />$8,266 $530 7,737 60% $4,642 $3,095 15,240 18,334
<br />$6,298 $404 5,895 40% $2,358 $3,537 15,240 18,777
<br />$4,724 $303 4,421 20% $884 $3,537 15,240 18,777
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<br />$38,183 $2,447 $35,736 $23,505 $12,231 $76,199 $88,430
<br />Total Taxes Due During Abatement:
<br />Total Taxes Abated During Abatement:
<br />Total Taxes Paid During Abatement:
<br />$35,736
<br />$23,505
<br />$12,231
<br />-This schedule is for estimation purposes oniy and assumes constant tax rates.
<br />The true tax values will ulimately be determined by the actual
<br />assessed valuation and the then current tax rates.
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