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Tax Abatement Schedule prepared for: 15-.Ian-o7 <br />THE SOUTH BEND CLINIC, LLP <br />Soufh Bend Portage Township 3 Year Rea! Property Abatement Scheduie* <br />Total estimated Project Cost: $33,000,000 <br />Base Assessed Value: $28,050,000 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 5.1524% <br />Assume constant SRTC of: 21.6906% <br /> Assessed Gross Less Net Percent Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $28,050,000 $1,445,248 $313,483 $1,131,765 100% $1,131,765 $0 <br />2 28,050,000 1,445,248 313,483 1,131,765 66% 746,965 384,800 <br />3 28,050,000 1,445,248 313,483 1,131,765 33% 373,482 758,283 <br /> $3,395,295 $2,252,212 $1,143,083 <br />Total Taxes Due During Abatement: <br />Total Taxes Abated During Abatement: <br />Total Taxes Paid During Abatement: <br />$3,395,295 <br />2,252,212 <br />1,143,083 <br />-This schedule is for estimation purposes only and assumes constant tax rates. <br />The true tax values vrill ultimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />