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10 YEAR 22- Aug -13
<br />Hoffman Apartments Housing Partners, L.P.
<br />South Bend Portage Township
<br />Real Prope7ty Tex Abatement Schedule'
<br />To Key Numbs
<br />New
<br />Comoined
<br />0
<br />Net
<br />Existing
<br />Project
<br />F ''sung & New
<br />Tex
<br />Tax
<br />Year
<br />Taxes
<br />Taxes
<br />Current Assessed Value:
<br />Abated
<br />Paid
<br />864,200
<br />31.373
<br />123,428
<br />154.80'
<br />111,394
<br />43.407
<br />- 2
<br />31,373
<br />123,428
<br />154,801
<br />102,855
<br />Estimated Project Cost:
<br />3
<br />31.373
<br />4,000,WD
<br />154.801
<br />77,239
<br />77,562
<br />4
<br />31,373
<br />123,428
<br />154,801
<br />51,623
<br />103,178
<br />5
<br />31,373
<br />Cunenl
<br />Without
<br />100%
<br />95%
<br />80%
<br />65%
<br />50%
<br />40%
<br />301/6
<br />20%
<br />10%
<br />5%
<br />Assessed Value.
<br />Cunenl
<br />154,801
<br />AV & Taz
<br />Abatement
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />year 5
<br />Year ¢
<br />Yg ,
<br />Year 5
<br />Yearl
<br />Year 5
<br />Assessed Value
<br />100%
<br />864,200
<br />664.200
<br />864,200
<br />864,200
<br />864,200
<br />664,200
<br />864,200
<br />864200
<br />864,200
<br />864,200
<br />864,200
<br />864,200
<br />Base Assessed Value
<br />85%
<br />The true to values
<br />3.400.000
<br />3,400,000
<br />3.400,000
<br />3,400,000
<br />3.400,000
<br />3,400,000
<br />3,400.000
<br />3,400.000
<br />3,400,000
<br />3,400,000
<br />3,400,000
<br />Less Abatement Deduction
<br />0
<br />(3,400.000)
<br />(3 230 000)
<br />(2,720,000)
<br />(2.210.000)
<br />(1,700.000)
<br />(1,360,000)
<br />(1,020,000)
<br />(660 0001
<br />(340 000)
<br />(170 000)
<br />Net Assessed Value
<br />864,200
<br />4.254,200
<br />864,200
<br />1.034,200
<br />1,544,200
<br />2.054,200
<br />2,564,2C0
<br />2,904,200
<br />3,244,200
<br />3.584,200
<br />3,924,200
<br />4,094,200
<br />Property Taxes:
<br />Assume constant tax late of
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />5.0228%
<br />50228%
<br />5.0228%
<br />6.0228%
<br />Gross To (tax fate x net assessed
<br />value)
<br />43,407
<br />214.181
<br />43,407
<br />51.945
<br />77,562
<br />103,178
<br />128.794
<br />145,671
<br />162.949
<br />180,026
<br />197,104
<br />205,642
<br />Less C-4 Breaker Credit-
<br />(12,034)
<br />(59381)
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />(14577)
<br />(295111
<br />(44446)
<br />(51913)
<br />Net Tax
<br />_31,373
<br />154,801
<br />43.407_
<br />51,946
<br />77562
<br />103,178
<br />128.794
<br />145.871
<br />148.372
<br />150515
<br />152658
<br />153,729
<br />Circuit 13-ka, Cep
<br />Circuit Breaker
<br />3.0000%
<br />25,926
<br />127,926
<br />127.926
<br />127.926
<br />127.926
<br />127,926
<br />127,926
<br />127.926
<br />127.926
<br />127,926
<br />127,926
<br />127,926
<br />Debt Service
<br />0.8302%
<br />5,447
<br />26,875
<br />5,447
<br />8.518
<br />9732
<br />12,946
<br />16161
<br />18.303
<br />20446
<br />22569
<br />26732
<br />25803
<br />Circuit Blakey Cap
<br />31,373
<br />154,801
<br />133.373
<br />134,644
<br />137 656
<br />140 672
<br />144 087
<br />146,229
<br />148 372
<br />150 515
<br />152 658
<br />153 729
<br />New
<br />Comoined
<br />Net
<br />Existing
<br />Project
<br />F ''sung & New
<br />Tex
<br />Tax
<br />Year
<br />Taxes
<br />Taxes
<br />Taxes
<br />Abated
<br />Paid
<br />31.373
<br />123,428
<br />154.80'
<br />111,394
<br />43.407
<br />- 2
<br />31,373
<br />123,428
<br />154,801
<br />102,855
<br />51,946
<br />3
<br />31.373
<br />123,428
<br />154.801
<br />77,239
<br />77,562
<br />4
<br />31,373
<br />123,428
<br />154,801
<br />51,623
<br />103,178
<br />5
<br />31,373
<br />123,428
<br />154.801
<br />26,007
<br />128,794
<br />6
<br />31,373
<br />123,428
<br />154,801
<br />8.929
<br />145,871
<br />7
<br />31,373
<br />123,428
<br />154,801
<br />61426
<br />148,372
<br />8
<br />31,373
<br />123,428
<br />154,901
<br />4,286
<br />150,515
<br />9
<br />31,373
<br />123,428
<br />154,801
<br />2,143
<br />152,658
<br />10
<br />31,373
<br />123,426
<br />154,801
<br />1,071
<br />153,729
<br />Tciels
<br />313,725
<br />1.234,280
<br />1,548,005
<br />391,974
<br />1156,031
<br />'This schedule is for estimation purposes only and assumes constant
<br />lax rates.
<br />The true to values
<br />
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