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Tax Abatement Schedule prepared for: ~ ~-Jul-os <br />James F. and Sandra McCune <br />South Bend Portage Township 4 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $203,500 <br />Base Assessed Value: $172,975 Existing AV 306,200 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 4.9205% <br />Assume constant SRTC of: 19.4243% <br /> Total Taxes <br />Assessed Gross Less Net Percent Tax Tax Existing Old & New <br />Year Value Tax SRTC Tax Abated Abated Paid Tax Paid <br />1 172,975 8,511 1,653 6,858 100% 6,858 0 12,140 12,140 <br />2 172,975 8,511 1,653 6,858 75% 5,144 1,714 12,140 13,854 <br />3 172,975 8,511 1,653 6,858 50% 3,429 3,429 12,140 15,569 <br />4 172,975 8,511 1,653 6,858 25% 1,715 5,143 12,140 17,283 <br />27,432 17,146 10,286 48,560 58,846 <br />Total Taxes Due During Abatement: 27,432 <br />Total Taxes Abated During Abatement: 17,146 <br />Total Taxes Paid During Abatement: 10,286 <br />-This schedule is for estimation purposes only and assumes constant tax rates. <br />The true tax values will ultimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />