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Tax Abatement Schedule prepared for: <br />ELKHART PLASTICS, INC. <br />South Bend German Township 4 Year Real Property Abatement Schedule" <br />Total estimated Project Cost: $600,000 <br />Base Assessed Value: $510,000 <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 <br />Year Value Tax <br />1 $510,000 $26,202 <br />2 510,000 26,202 <br />3 510,000 26,202 <br />4 510,000 26,202 <br />2-Nov-06 <br />Less Net Percent Tax Tax <br />SRTC Tax Abated Abated Paid <br />$5,694 $20,508 100% $20,508 $0 <br />5,694 20,508 75% 15,381 5,127 <br />5,694 20,508 50% 10,254 10,254 <br />5,694 20,508 25% 5,127 15,381 <br /> $82,032 $51,270 $30,762 <br />Total Taxes Due During Abatement: <br />Total Taxes Abated During Abatement: <br />Total Taxes Paid During Abatement: <br />$82,032 <br />51,270 <br />30,762 <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. <br />