|
'This schedule is for estimation purposes only and assumes constant tax rates. The true lax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates.
<br />New
<br />Combined
<br />4- Sep -08
<br />Existing
<br />Project
<br />Existing 8 New
<br />Tax
<br />Tax
<br />Year
<br />10 YEAR
<br />Taxes
<br />ax
<br />Abated
<br />Paid
<br />1
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,807,774
<br />9,003
<br />2
<br />7,450
<br />1,eo9,327
<br />1,816.777
<br />1,698,453
<br />118,324
<br />3
<br />Innovation Park
<br />1,809,327
<br />1,816,777
<br />1,370,490
<br />446,287
<br />4
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,042,527
<br />774,250
<br />5
<br />7,450
<br />South Bend Clay Township
<br />1,816,777
<br />714,564
<br />1,102,213
<br />6
<br />7,450
<br />1,809.327
<br />1,816,777
<br />495,922
<br />1,320,856
<br />7
<br />7,450
<br />1,809,327
<br />Real Property Tax Abatement Schedule'
<br />277,280
<br />1,539,498
<br />8
<br />7,450
<br />1,809,327
<br />1,816,777
<br />58,637
<br />Tax Key Number
<br />9
<br />7,450
<br />17.1017 -0406
<br />1,816,777
<br />27,933
<br />1,788,844
<br />10
<br />7,450
<br />1,809,327
<br />1,616,777
<br />27,933
<br />1,788,844
<br />Current Assessed Value:
<br />74,502
<br />18,093,270
<br />210,000
<br />7,521,512
<br />10,646,259
<br />Estimated Project Cost:
<br />60 000,000
<br />Current
<br />Without
<br />100%
<br />95% 80%
<br />65%
<br />50%
<br />Years
<br />40%
<br />Year6
<br />30%
<br />Year?
<br />20%
<br />Year
<br />10%
<br />Year
<br />5%
<br />Year 10
<br />Assessed Value:
<br />AV 8 Tax
<br />Abatement
<br />Year
<br />Year Year
<br />210,000
<br />Year
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />210,000
<br />Current Assessed Value
<br />100%
<br />210,000
<br />210,000
<br />210,000
<br />51,000,000
<br />210,000
<br />51,000,000 51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />51,000,000
<br />Base Assessed Value
<br />85%
<br />51,000,000
<br />51 000,000
<br />48,450,000 (40,800,0001
<br />J25,500,000)
<br />20,400,000
<br />15,300,000
<br />10,200,000
<br />5,100,000
<br />2,550,000
<br />Less Abatement Deduction
<br />0
<br />51,210,000
<br />210,000
<br />2,760,000 10,410,000
<br />18,060,000
<br />25,710,000
<br />30,810,000
<br />35,910,000
<br />41,010,000
<br />46,110,000
<br />48,660,000
<br />Net Assessed Value
<br />210,000
<br />Property Taxes:
<br />4.2871%
<br />4.2871% 4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2871%
<br />4.2671 %
<br />4.2871 %
<br />42871
<br />Assume constant tax rate of
<br />4.2871%
<br />4.2871%
<br />Gross Tax (tax rate x net assessed value)
<br />9,003
<br />2,195,424
<br />9,003
<br />118,324 446,287
<br />774,250
<br />1,102,213
<br />1,320,856
<br />0
<br />1,539,498
<br />0
<br />1,758,140
<br />0
<br />1,976,782
<br />(187 937)
<br />2,086,103
<br />(263.292)
<br />Less Circuit Breaker Credit
<br />(1,553)
<br />(378,647)
<br />0
<br />0 0
<br />118,324 446,287
<br />0
<br />774,250
<br />0
<br />1,102,213
<br />1,320,856
<br />1,539498
<br />1,758,140
<br />1788844
<br />1602811
<br />Net Tax
<br />7,450
<br />1,616,777
<br />9,003
<br />Circuit Breaker Cap
<br />6,300
<br />1,536,300
<br />1,538,300
<br />1,536,300 1,536,300
<br />1,536,300
<br />1,536,300
<br />1,536,300
<br />1,536,300
<br />1,536,300
<br />1,536,300
<br />1,536,300
<br />266,511
<br />Circuit Breaker
<br />3.0000%
<br />1,150
<br />15,117 57016
<br />98,915
<br />140,014
<br />168,746
<br />196,679
<br />224,612
<br />252,544
<br />Debt Service
<br />0.5477%
<br />1,150
<br />280477
<br />1,537,450
<br />1,551,417 1,593,316
<br />1,635,215
<br />1,677,114
<br />1,705,046
<br />1,732,979
<br />1,760,912
<br />1,768,644
<br />1,802,811
<br />Circuit Braker Cap
<br />7,450
<br />1,816,777
<br />'This schedule is for estimation purposes only and assumes constant tax rates. The true lax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates.
<br />New
<br />Combined
<br />Net
<br />Existing
<br />Project
<br />Existing 8 New
<br />Tax
<br />Tax
<br />Year
<br />Taxes
<br />Taxes
<br />ax
<br />Abated
<br />Paid
<br />1
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,807,774
<br />9,003
<br />2
<br />7,450
<br />1,eo9,327
<br />1,816.777
<br />1,698,453
<br />118,324
<br />3
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,370,490
<br />446,287
<br />4
<br />7,450
<br />1,809,327
<br />1,816,777
<br />1,042,527
<br />774,250
<br />5
<br />7,450
<br />1,809,327
<br />1,816,777
<br />714,564
<br />1,102,213
<br />6
<br />7,450
<br />1,809.327
<br />1,816,777
<br />495,922
<br />1,320,856
<br />7
<br />7,450
<br />1,809,327
<br />1,816,777
<br />277,280
<br />1,539,498
<br />8
<br />7,450
<br />1,809,327
<br />1,816,777
<br />58,637
<br />1,758,140
<br />9
<br />7,450
<br />1,809,327
<br />1,816,777
<br />27,933
<br />1,788,844
<br />10
<br />7,450
<br />1,809,327
<br />1,616,777
<br />27,933
<br />1,788,844
<br />Totals
<br />74,502
<br />18,093,270
<br />16 167,772 _ _
<br />7,521,512
<br />10,646,259
<br />'This schedule is for estimation purposes only and assumes constant tax rates. The true lax values
<br />will ultimately be determined by the actual assessed valuation and the then current tax rates.
<br />
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