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Tax Abatement Schedule prepared for: 27-Mar-o~ <br />ODYSSIAN TECHNOLOGY <br />South Bend Portage Township 6 Year Real Property Abatement Schedule" <br /> Total estimated Project Cost: $200,000 <br /> Base Assessed Value: $170,000 <br />(bas e assessed value is estimated at 85% of proj ect cost) <br /> Assume constant tax rate of: 5.1524% <br /> Assume constant SRTC of: 21.6906% <br /> Assessed Gross Less Net Percent <br />Year Value Tax SRTC Tax Abated <br />1 $170,000 $8,759 $1,900 $6,859 100% <br />2 170,000 $,759 1,900 6,859 85% <br />3 170,000 8,759 1,900 6,859 66% <br />4 170,000 8,759 1,900 6,859 50% <br />5 170,000 8,759 1,900 6,859 34% <br />6 170,000 8,759 1,900 6,859 17% <br /> $41,154 <br /> Total Taxes Due During Abatement: $41,154 <br /> Total Taxes Abated During Abatement: 24,144 <br /> Total Taxes Paid During Abatement: 17,010 <br />Tax Tax <br />Abated Paid <br />$6,859 $0 <br />5,830 1,029 <br />4,527 2,332 <br />3,430 3,429 <br />2,332 4,527 <br />1,166 5,693 <br />$24,144 $17,010 <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 />