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Tax Abatement Schedule prepared for: 2-May-o7 <br />COMFORT SUITES <br />South Bend Centre Township 3 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $3,094,000 <br />Base Assessed Value: $2,629,900 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 5.1338% <br />Assume constant SRTC of: 21.7230% <br /> Assessed Gross Less Net Percent Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $2,629,900 $135,014 $29,329 $105,685 100% $105,685 $0 <br />2 2,629,900 135,014 29,329 105,685 66% 69,752 35,933 <br />3 2,629,900 135,014 29,329 105,685 33% 34,876 70,809 <br /> $317,055 $210,313 $106,742 <br />Total Taxes Due During Abatement: 317,055 <br />Total Taxes Abated During Abatement: 210,313 <br />Total Taxes Paid During Abatement: 106,742 <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 />Find I~ ~;;sc::r•E':.~ ~'~ti~ <br />~{~ ~Y ~ L~l~~ <br />JO".i: VOO~s~~E <br />CITY CLcs;:, 50. C=~~~, iN. <br />