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Tax Abatement Schedule prepared for: 23-Apr-o7
<br />STANZ FOODSERVICE, INC.
<br />South Bend German Township 7 Year Real Property Abatement Schedule*
<br /> Total estimated Project Cost: $6,600,000
<br /> Base Assessed Value: $5,610,000
<br />(base assessed value is estimated at 85% of project cost)
<br /> Assume constant tax rate of: 5.1376%
<br /> Assume constant SRTC of: 21.7293%
<br /> Assessed Gross Less Net Percent Tax Tax
<br />Year Value Tax SRTC Tax Abated Abated Paid
<br />1 $5,610,000. $288,219 $62,628 $225,591 100% $225,591 $0
<br />2 5,610,000 288,219 62,628 225,591 85% 191,752 33,839
<br />3 5,610,000 288,219 62,628 225,591 71% 160,170 65,421
<br />4 5,610,000 288,219' 62,628 225,591 57% 128,587 97,004
<br />5 5,610,000 288,219 62,628 225,591 43% 97,004 128,587
<br />6 5,610,000 288,219 62,628 225,591 29% 65,421 160,170
<br />7 5,610,000 288,219 62,628 225,591 14% 31,583 194,008
<br /> $1,579,137 $900,108 $679,029
<br /> Total Taxes Due During Abatement: $1,579,137
<br /> Total Taxes Abated During Abatement: 900,108
<br /> Total Taxes Paid During Abatement: 679,029
<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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