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Tax Abatement Schedule prepared for: 23-Apr-07
<br />STANZ FOODSERVICE, INC.
<br />South Bend German Township 7 Year Real Property Abafement Schedule'`
<br /> Total estimated Project Cost: $8,800,000
<br /> Base Assessed Value: $7,480,000
<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 $7,480,000 $384,292 $83,504 $300,788 100°!0 $300,788 $0
<br />2 7,480,000 384,292 83,504 300,788 85% 255,670 45,118
<br />3 7,480,000 384,292 83,504 300,788 71 % 213,559 87,229
<br />4 7,480,000 384,292 83,504 300,788 57% 171,449 129,339
<br />5 7,480,000 384,292 83,504 300,788 43% 129,339 171,449
<br />6 7,480,000 384,292 83,504 300,788 29% 87,229 213,559
<br />7 7,480,000 384,292 83,504 300,788 14°l0 42,110 258,678
<br /> $2,105,516 $1,200,144 $905,372
<br /> Total Taxes Due During Abatement: $2,105,516
<br /> Total Taxes Abated During Abatement: 1,200,144
<br /> Total Taxes Paid During Abatement: 905,372
<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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