|
Tax Abatement Schedule prepared for:
<br />GTA Containers
<br />South Bend Portage 5 Year Personal Property Abafement Schedule*
<br /> TTV
<br />Year TTV% Year 1-5
<br />1 0.40 $160,000
<br />2 0.56 $224,000
<br />3 0.42 $168,000
<br />4 0.32 $128,000
<br />5 0.24 $96,000
<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 />11-JuI-08
<br />Assessed Gross Less Net Percent Tax Tax
<br />Value Tax SRTC Tax Abated Abated Paid
<br />$160,000 $7,873 $505 7,368
<br />$224,000 $11,022 $706 10,316
<br />$168,000 $8,266 $530 7,737
<br />$128,000 $6,298 $404 5,895
<br />$96,000 $4,724 $303 4,421
<br /> $38,183 $2,447 $35,736
<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 />100% $7,368 $0
<br />80% $8,252 $2,063
<br />60% $4,642 $3,095
<br />40% $2,358 $3,537
<br />20% $884 $3,537
<br /> $23,505 $12,231
<br />Total Taxes
<br />Existing Old & New
<br />Tax Paid
<br />15,240 15,240
<br />15,240 17,303
<br />15,240 18,334
<br />15,240 18,777
<br />15,240 18,777
<br />$76,199 $88,430
<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.
<br />
|