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Tax Abatement Schedule prepared for:
<br />Stanz Foodservice
<br />South Bend Portage 5 Year Personal Property Abatement Schedule*
<br />Existing AV 520,970
<br />Total estimated Equipment Cost: 850,000
<br />Assume constant tax rate of: 4.9205°l0
<br />Assume constant SRTC rate of: 6.4091
<br /> TTV Assessed Gross Less Net
<br />Year TTV% Year 1-5 Value Tax SRTC Tax
<br />1 0.40 $340,000 $340,000 $16,730 $1,072 15,657
<br />2 0.56 $476,000 $476,000 $23,422 $1,501 21,920
<br />3 0.42 $357,000 $357,000 $17,566 $1,126 16,440
<br />4 0.32 $272,000 $272,000 $13,384 $858 12,526
<br />5 0.24 $204,000 $204,000 $10,038 $643 9,394
<br /> $81,139 $5,200 $75,939
<br />Total Taxes Due During Abatement:
<br />Total Taxes Abated During Abatement:
<br />Total Taxes Paid During Abatement:
<br />$75,939
<br />$49,947
<br />$25,991
<br />#REF!
<br />Total Taxes
<br />Percent Tax Tax Existing Old & New
<br />Abated Abated Paid Tax Paid
<br />100% $15,657 $0 23,991 23,991
<br />80% $17,536 $4,384 23,991 28,375
<br />60% $9,864 $6,576 23,991 30,568
<br />40% $5,010 $7,516 23,991 31,507
<br />20% $1,879 $7,516 23,991 31,507
<br />$49,947 $25,991 $119,957 $145,948
<br />" -This schedule is for estimation purposes only 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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