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Tax Abatement Schedule prepared for: ~a-Jul-os
<br />GTA Containers (Fopxtrot Realty)
<br />South Bend Portage Township 7 Year Real Property Abatement Schedule*
<br />Total estimated Project Cost: $2,800,000
<br />Base Assessed Value: $2,380,000 Existing AV 1,852,300
<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 $2,380,000 $117,108 $22,747 $94,361 100% $94,361 $0 73,439 73,439
<br />2 2,380,000 117,108 22,747 94,361 85% 80,207 - 14,154 73,439 87,593
<br />3 2,380,000 117,108 22,747 94,361 71% 66,996 27,365 73,439 100,804
<br />4 2,380,000 117,108 22,747 94,361 57% 53,786 40,575 73,439 114,014
<br />5 2,380,000 117,108 22,747 94,361 43% 40,575 53,786 73,439 127,225
<br />6 2,380,000 117,108 22,747 94,361 29% 27,365 66,996 73,439 140,435
<br />7 2,380,000 117,108 22,747 94,361 14% 13,211 81,150 73,439 154,589
<br /> $660,527 $376,501 $284,026 $514,071 $798,097
<br /> Total Taxes Due During Abatement: $660,527
<br /> Total Taxes Abated During Abatement: 376,501
<br /> Total Taxes Paid During Abatement: 284,026
<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.
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