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Tax Abatement Schedule prepared for: 2s-Jun-o~ <br />GWSB Properties, LLC <br />South Bend German Township 6 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $500,000 <br />Base Assessed Value: $425,000 <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 $425,000 $21,835 $4,745 $17,090 100% $17,090 $0 <br />2 425,000 21,835 4,745 17,090 85% 14,527 2,563 <br />3 425,000 21,835 4,745 17,090 66% 11,279 5,811 <br />4 425,000 21,835 4,745 17,090 50% 8,545 8,545 <br />5 425,000 21,835 4,745 17,090 34% 5,811 11,279 <br />6 425,000 21,835 4,745 17,090 17% 2,905 14,185 <br /> $102,540 $60,157 $42,383 <br /> Total Taxes Due During Abatement: $102,540 <br /> Total Taxes Abated During Abatement: 60,157 <br /> Total Taxes Paid During Abatement: 42,383 <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 />