5 YEAR
<br />20
<br />Total
<br />4- May -15
<br />Temofcro Develoomente, LLC
<br />Taxes
<br />Tax
<br />South Bend Poifega Tcwnsh/p
<br />Due
<br />Abated
<br />Resdendal Real Property Tax Abatement Schedule•
<br />37,928.09
<br />32,805.58
<br />Estimated Project Cost:
<br />37,928.09
<br />$150.ODO.00
<br />5,122.61
<br />37,928.09
<br />32,805.58
<br />5,122.51
<br />Total Tazea
<br />Tax Abated
<br />Tax Pald'••
<br />Assessed Value•
<br />32,805.58
<br />5,122.51
<br />189,840.45
<br />164,927.91 1
<br />Structure PA AV of cost) 100.0%
<br />150,000.00
<br />150,000.00
<br />160,000.00
<br />Land Value 5,000
<br />6,000.00
<br />N/A
<br />WA
<br />Gross Assessed Value
<br />155,000.00
<br />150,000.00
<br />150,000.00
<br />Less Mortplm Exemptlon
<br />(3,000.00)
<br />(3,000.00)
<br />(3,000.00)
<br />Less Homestead Deduction
<br />(46,000.00)
<br />(45,000.00)
<br />(45,000.00)
<br />Less Supplemental Homestead Deduction
<br />(38,500,00)
<br />(3816W,00)
<br />(38 500 00)
<br />Base Amassed Value
<br />68,500.00
<br />63,500.00
<br />63,600,00
<br />Less Maximum Abatement Deduction
<br />WA
<br />N/A
<br />(63,500.00)
<br />Less Non - Abated Amount
<br />WA
<br />0.00
<br />WA
<br />Plus land Assessed Value
<br />WA
<br />WA
<br />5,000,00
<br />Net Assessed Value
<br />86,600.00
<br />63,500.00
<br />5,000.00
<br />Property Texas:
<br />Assume constant tax rate of
<br />5.4968%
<br />'5.4888%
<br />5.4968%
<br />Gross Tax (tax rate x net assessed value)
<br />3,765.32
<br />3,490.48
<br />274.84
<br />Less County COIT Homestead Credt
<br />6.8095%
<br />(256,40)
<br />(237.68)
<br />(18.72)
<br />Tex Due Before Cirarlt Breaker
<br />3,508.92
<br />3,252.78
<br />256.13
<br />Lass Ciradt Breaker Credit
<br />(1,612.51)
<br />(1012.51)
<br />000
<br />Net Tax
<br />1,896.40
<br />1,64038
<br />256.13
<br />Circuit Breaker Cep
<br />Circuit Breaker
<br />1.0000%
<br />1,550.00
<br />100.00
<br />1,650.00
<br />Debt Sewlee
<br />0.5057%
<br />348.40
<br />321.12 -
<br />25.29
<br />Circuit Braker Cep
<br />1,896.40
<br />1,821.12
<br />1,676.29
<br />Net
<br />Total
<br />Assessetl
<br />Tares
<br />Tax
<br />Tax
<br />. Year
<br />Value
<br />Due
<br />Abated
<br />Paid
<br />1
<br />66,500.00
<br />1,898.40
<br />1,64028
<br />255.13
<br />2
<br />68,500.00
<br />1,890.40'
<br />1,64028
<br />258.13
<br />3
<br />68,500.00
<br />1,888.40
<br />1,640.28
<br />266.13
<br />4
<br />68,500.00
<br />1,896.40
<br />1,840.28
<br />256.13
<br />5
<br />86,500.00
<br />1,896.40
<br />1.640.28
<br />256.13
<br />SyeartoWs:
<br />9882.02
<br />8,201.40
<br />1,280.63
<br />•This schedule is fwesdmetbn.pmposee Wy end assumes constant tax rates. The true taxvaluea
<br />Will ultimately be determined by the actual assessed valuation and the then current tax rates.
<br />•"Tex Abated Is capped at $74,880 of assessed value of structures only and does not indude land
<br />assessed value.
<br />—Tax Pad Is calculated using the dllference between actual assessed value of abuctue and
<br />maximum abated Portion of $74,880 and adding back4he land assessed valve.
<br />#of fames
<br />20
<br />Total
<br />Taxes
<br />Tax
<br />Tex
<br />Due
<br />Abated
<br />Paid
<br />37,928.09
<br />32,805.58
<br />5,122.51
<br />37,928.09
<br />32,805.58
<br />5,122.61
<br />37,928.09
<br />32,805.58
<br />5,122.51
<br />37,928.09
<br />4805.68
<br />5,122.61
<br />37,928"
<br />32,805.58
<br />5,122.51
<br />189,840.45
<br />164,927.91 1
<br />25,612.54
<br />
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