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Year 1...........100% <br />Tangible Personal <br />Property Taxes Abated <br />GF, MSTU, ES Dist. <br />At 7.0512 Mills <br />Year 2...........100% <br />.............40% <br />Year 3............90% <br />.............20% <br />Year 4............80% <br />.............10% <br />Year 5............60% <br />Tangible Personal <br />Property Taxes Abated <br />GF, MSTU, ES Dist. <br />At 7.0512 Mills <br />Year 6 <br />.............40% <br />Year 7 <br />.............20% <br />Year 8 <br />.............10% <br />A Tangible Personal Property taxes abated scenario for the Diamond Drinks of Florida, Inc. facility, <br />based on applicant's estimates and based on certain assumptions stated below, is as follows: <br />Year <br />Tangible Personal <br />Property Taxes Abated <br />GF, MSTU, ES Dist. <br />At 7.0512 Mills <br />Tangible Personal <br />Property Taxes Paid <br />GF, MSTU, ES Dist. <br />At 7.0512 Mills <br />Tangible Personal <br />Property Taxes Paid <br />Schools, Bonds, Other <br />At 8.1642 Mills <br />Year 1 <br />$11,388 <br />$0 <br />$12,451 <br />Year 2 <br />$10,249 <br />$0 <br />$11,205 <br />Year 3 <br />$8,302 <br />$922 <br />$10,085 <br />Year 4 <br />$6,641 <br />$1,660 <br />$9,076 <br />Year 5 <br />$4,483 <br />$2,989 <br />$8,169 <br />Year 6 <br />$2,690 <br />$4,035 <br />$7,352 <br />Year 7 <br />$1,210 <br />$4,842 <br />$6,617 <br />Year 8 <br />$399 <br />$3,587 <br />$4,358 <br />$45,3 1 abated <br />$18,035 aid <br />$69,312 aid <br />Assumptions: <br />(a) The tax abatement is for new tangible personal property. The business will occupy an <br />existing building and there are no planned building expansions, therefore the tax <br />abatement does not apply to real property. <br />(b) No additional tangible personal property improvements are made during the abatement <br />period. <br />(c) The 202012021 millage rates for the General Fund (3.5475 mills), MSTU(1.1506 mills), <br />and Emergency Services District (2.3531 mills) tax funds are applied each year during <br />the tax abatement period for a total of 7.0512 mills and the ratefor other property taxes <br />remains at 7.7093 mills (rate for 202012021) each year during the tax abatementperiod. <br />(d) The initial assessed value of tangible personal property in Year I of the abatement <br />period is $1,615, 000. <br />(e) Depreciation of the initial assessed value of tangible personal property is applied at a <br />rate of 10% of the previous year's assessed value, with a floor at 35% of initial assessed <br />value for year 8, 9, and 10. <br />n <br />C:\Users\legistar\AppData\Local\Temp\BCL Technologies\easyPDF 8\@BCL@880E2271 \@BCL@880E2271.doc <br />