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Tax Abatement Schedule prepared for:
<br />Stanz Foodservice
<br />South Bend Portage 5 Year Personal Property Abatement Schedule*
<br />Existing AV 520,970
<br />Total estimated Equipment Cost: 850,000
<br />Assume constant tax rate of. 4.9205%
<br />Assume constant SRTC rate of: 6.4091%
<br />#REF!
<br />TTV Assessed Gross Less Net Percent Tax Tax
<br />Year TTV% Year 1 -5 Value Tax SRTC Tax Abated Abated Paid
<br />1 0.40
<br />$340,000
<br />$340,000
<br />$16,730
<br />$1,072
<br />15,657
<br />2 0.56
<br />$476,000
<br />$476,000
<br />$23,422
<br />$1,501
<br />21,920
<br />3 0.42
<br />$357,000
<br />$357,000
<br />$17,566
<br />$1,126
<br />16,440
<br />4 0.32
<br />$272,000
<br />$272,000
<br />$13,384
<br />$858
<br />12,526
<br />5 0.24
<br />$204,000
<br />$204,000
<br />$10,038
<br />$643
<br />9,394
<br />$81,139 $5,200 $75,939
<br />Total Taxes Due During Abatement:
<br />Total Taxes Abated During Abatement
<br />Total Taxes Paid During Abatement:
<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 />$75,939
<br />$49,947
<br />$25,991
<br />100%
<br />$15,657
<br />$0
<br />80%
<br />$17,536
<br />$4,384
<br />60%
<br />$9,864
<br />$6,576
<br />40%
<br />$5,010
<br />$7,516
<br />20%
<br />$1,879
<br />$7,516
<br />$49,947
<br />$25,991
<br />Total Taxes
<br />Existing Old & New
<br />Tax Paid
<br />23,991
<br />23,991
<br />23,991
<br />28,375
<br />23,991
<br />30,568
<br />23,991
<br />31,507
<br />23,991
<br />31,507
<br />$119,957 $145,948
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