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Tax Abatement Schedule prepared for: 4/12/2006
<br />Mack Tool & Engineering, Inc.
<br />South Bend German 5 Year Personal Property Abatement Schedule'
<br />Total estimated Equipment Cost: $2,000,000
<br />Assume constant tax rate of: 4.874
<br />Assume constant SRTC rate of: 7.9223
<br /> TTV Assessed Gross - Less Net Percent Tax Tax
<br />Year .TTV°I° (Year 1-5) Value Tax SRTC Tax Abated Abated Paid
<br />1 40% 800,000 800,000 $38,992 3,089 $35,903 100% $35,903 $0
<br />2 56% 1,120,000 1,120,000 $54,589 4,325 $50,264 80% $40,211 $10,053
<br />3 42°!° 840,000 840,000 $40,942 3,244 -$37,698 60%. $22,619 $15,079
<br />4 32% 640,000 640,000 $31,194 2,471 $28,723 40% $11,489 $17,234
<br />5 24% 480,000 480,000 $23,395 1,853 $21,542 20% $4,308 $17,233
<br /> $189,112 14,982 $174,130: $114,531 $59,599
<br /> Total Taxes Due During Abatement: $174,130
<br /> Total Taxes Abated During Abateme nt: $114,531
<br /> Total Taxes Paid During Abatement: $59,599
<br />-This schedule is for estimation purposes only and assumes constant tax rates.
<br />The true tax values will utimately be determined by the actual
<br />assessed valuation and the then current tax rates.
<br />JOHN V00
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