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Tax Abatement Schedule prepared for:
<br />Enzyme Research Laboratories, Inc.
<br />South Bend German 5 Year Personal Property Abatement Schedule'
<br />Total Taxes Due During Abatement: $69,652
<br />Total Taxes Abated During Abatement: $45,813
<br />Total Taxes Paid During Abatement: $23,839
<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 />12/17/2005
<br />Tax
<br />Paid
<br />$0
<br />$4,021
<br />$6,032
<br />$6,893
<br />$6,893
<br />$23,839
<br />Total estimated Equipment Cost
<br />$800,000
<br />Assume constant tax rate of:
<br />4.874
<br />Assume constant SRTC rate of:
<br />7.9223
<br />TTV
<br />Assessed Gross Less
<br />Net
<br />Percent
<br />Tax
<br />Year
<br />TTV%
<br />(Year 1 -5)
<br />Value Tax SRTC
<br />Tax
<br />Abated
<br />Abated
<br />1
<br />40%
<br />320,000
<br />320,000 $15,597 1,236
<br />$14,361
<br />100%
<br />$14,361
<br />2
<br />56%
<br />448,000
<br />448,000 $21,836 1,730
<br />$20,106
<br />80%
<br />$16,085
<br />3
<br />42%
<br />336,000
<br />336,000 $16,377 1,297
<br />$15,080
<br />60%
<br />$9,048
<br />4
<br />32%
<br />256,000
<br />256,000 $12,477 988
<br />$11,489
<br />40%
<br />$4,595
<br />5
<br />24%
<br />192,000
<br />192,000 $9,358 741
<br />$8,617
<br />20%
<br />$1,723
<br />$75,645 5,993
<br />$69,652
<br />$45,813
<br />Total Taxes Due During Abatement: $69,652
<br />Total Taxes Abated During Abatement: $45,813
<br />Total Taxes Paid During Abatement: $23,839
<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 />12/17/2005
<br />Tax
<br />Paid
<br />$0
<br />$4,021
<br />$6,032
<br />$6,893
<br />$6,893
<br />$23,839
<br />
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