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Tax Abatement Schedule prepared for: 2&-Jun-o7 <br />GWSB Properties, LLC <br />South Bend German Township 6 Year Real Property Abatement Schedule" <br />Total estimated Project Cost: $300,000 <br />Base Assessed Value: $255,000 <br />(base 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 $255,000 $13,101 $2,847 $10,254 100% $10,254 $0 <br />2 255,000 13,101 2,847 10,254 85% 8,716 1,538 <br />3 255,000 13,101 2,847 10,254 66% 6,768 3,486 <br />4 255,000 13,101 2,847 10,254 50% 5,127 5,127 <br />5 255,000 13,101 2,847 10,254 34% 3,486 6,768 <br />6 255,000 13,101 2,847 10,254 17% 1,743 8,511 <br /> $61,524 $36,094 $25,430 <br /> Total Taxes Due During Abatement: $61,524 <br /> Total Taxes Abated During Abatement: 36,094 <br /> Total Taxes Paid During Abatement: 25,430 <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 />