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Hoosier Energy's Indiana Tax Abatement Estimator Page 1 of I
<br /> Indiana Property Tax Estimator
<br /> Morgan County,MOORESVILLE TOWN,Tax District No:55005
<br /> Tax Rate(2013):$1,0434
<br /> Project Name:Mt.Olive
<br /> REAL PROPERTY
<br /> Cost or Real Property:$450,000.00
<br /> With Abatement Without Abatement '
<br /> Circuit Circuit I Estimated
<br /> Breaker Net Breaker Net j Tax
<br /> Property Tax Property Property Tax Property i Abatement
<br /> Taxes Credit Taxes Taxes Credit Taxes • Savings
<br /> Year 1 $0 $0 $0 $8,295 $0 $8,295 ( $8,295
<br /> Year 2 $1,244 $0 $1,244 $8,295 $0 $8,295 I $7,051
<br /> Year 3 $2,820 $0 $2,820 $8,295 $0 $8,295 I $5,475
<br /> Year 4 $4,148 $0 $4,148 $8,295 $0 $8,295 $4,147
<br /> Year 5 $5,475 $0 $5,475 $8,295 $0 $8,295 $2,820
<br /> Year 6 $6,885 $0 $6,885 $8,295 $0 $8,295 I $1,410
<br /> Totals $20,572 $0 $20,572 $49,772 $0 $49,770 [ $29,199
<br /> Note;The rates used In the tax abatement calculator are certified 2010 rates(unless otherwise noted).Taxing districts will
<br /> be updated when the DLO'certifies their 2010 rates.
<br /> DISCLOSURES
<br /> • The abatement calculations were prepared by timbaugh,a financial consultingq firm,in conjunction with Mosier Energy,based en
<br /> current State statute. Tits calculation is intended to provide an I LUSTRATWE and PRELIMINARY tndinattnrl of the level of
<br /> property taxes and potential tax savings for a proposed investment based on certain assumptions. Meese read the Disclosures
<br /> carefully.
<br /> • Companies must consult their own tax advisors to determine their actual tax liability and to Ampere their annual Indiana
<br /> property tax filings.
<br /> •To be eligible to receive properly tax abatements In Indiana,a Company must follow a specific applkation process.Please
<br /> contact your Hoosier Energy representative for further guidance.
<br /> • Assumes 2012 pay 2013 property tax rates as imlkated,as provided by the Department of tacal Government(Nance.
<br /> • Actual assessed value of a structure will be determined by the local Assessor upon completion.ibis valve may be materially
<br /> different from the value prodded In this estimate.
<br /> • Peal property in Indiana is subject to annual adjustments of assessed value to the market value of the structure based on annual
<br /> sales data("Trending"),no adjustments for Trending are made in this estimate.
<br /> • All personal property(equipment)is assumed to be new,and Is assumed to be depreciated for property lax purposes in Pool#2
<br /> (5-B year depreciable life), A mixture of new anti existing equipment(as well as a mixture of depreciation pools)will produce
<br /> different tax savillg6 tesulis.
<br /> • Assumes a one time investment in real and personal property. Staggering the Investments may have a material effect on the
<br /> actual value of property tax abatements. - .
<br /> • Includes the calculation of the Minimum Value Ratio(MVR)for the abatement calculation for personal property Investments. The
<br /> MVR erfectively increases the assessed value used In the abatement palpitation when the taxpayer is rattled to the 30%
<br /> depreciation floor. The MVR equals the adjusted assessed value at the 3056 floor divided by the depreciated assessed value of
<br /> the equipment. -
<br /> • Includes the applkation of the Circuit&eater las Credtt,which Duos the total property tax liability of a taxpayer to 3.00%of
<br /> the gross assessed value of real and personal property,beginning with taxes payable in 2010.
<br /> • The tax abatement savings value Is an ES1IMAII based on preliminary intonation entered Into this calculator. Actual
<br /> abatement savings may vary materially from fire results of this calculator,based on the timing of the investment,the actual
<br /> assessment of Snuctures(including Trending),differences in the depreclatinn pools for personal property,annual changes in tax
<br /> rates,adoption of a local option Income tax for property tax relief purposes,changes to Indiana property tax law or regulations,
<br /> or changes In assessment methodology.
<br /> •The results of this calculator should be treated as an ESTIMATE available fur illustrative purposes only,and should be treated as
<br /> an estimate when discussing,negotiating and offering incentives;and should be noted as such in memoranda and legal
<br /> documents related thereto.
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