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Tax Abatement Schedule prepared for: 3-Jan-o~ <br />THE SOUTH BEND CLINIC <br />South Bend German Township 5 Year Real Property Abatement Schedule* <br /> Total estimated Project Cost: $2,943,000 <br /> Base Assessed Value: $2,501,550 <br />(bas e 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 $2,501,550 $128,520 $27,926 $100,594 100% $100,594 $0 <br />2 2,501,550 128,520 27,926 100,594 80% 80,475 20,119 <br />3 2,501,550 128,520 27,926 100,594 60% 60,356 40,238 <br />4 2,501,550 128,520 27,926 100,594 40% 40,238 60,356 <br />5 2,501,550 128,520 27,926 100,594 20% 20,119 80,475 <br /> $502,970 $301,782 $201,188 <br /> Total Taxes Due During Abatement: $502,970 <br /> Total Taxes Abated During Abatement: 301,782 <br /> Total Taxes Paid During Abatement: 201,188 <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 />