Estimated CY 2004 Property Tax on Inventory

CEDIT Rates Necessary to Fund Homestead Credit

Range of Rates Depending on Share of Manufacturing Inventories Exempt Under HEA 1001-2002(ss)**

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                  No Manuf. Inv. Exempt: All Manuf. Inv. Exempt:
                  Additional Additional
  Estimated Estimated Est. 2004 Est. 2004   Estimated Shift to Residential if: Estimated CEDIT Rate CEDIT Rate
  2004 Prop Tax Manuf. Prop. Tax Prop. Tax Est. No Manufacturing All Manufacturing Revenue From Needed for Needed for
Cnty County on Inventory Inv. % Manuf. Inv. Non-Man Inv. Res % Inv. Exempt Inv. Exempt 1% LOIT Rate Homestead Homestead
01 Adams          1,943,510 65.6%      1,274,491           669,019 49.3%                     958,203                     329,845             5,506,115 0.17% 0.06%
02 Allen        13,732,209 37.4%      5,141,152        8,591,057 73.5%                10,095,826                  6,316,086            65,521,978 0.15% 0.10%
03 Bartholomew          4,463,670 61.9%      2,765,175        1,698,495 52.8%                  2,358,644                     897,500            14,270,901 0.17% 0.06%
04 Benton            319,075 40.2%         128,379           190,696 40.7%                     129,945                      77,662             1,280,156 0.10% 0.06%
05 Blackford            850,441 67.7%         575,393           275,049 45.4%                     385,837                     124,787             1,739,532 0.22% 0.07%
06 Boone          1,337,442 31.4%         419,511           917,931 72.3%                     967,269                     663,869            13,003,592 0.07% 0.05%
07 Brown            104,749 7.3%             7,628             97,121 82.5%                       86,470                      80,173             2,036,480 0.04% 0.04%
08 Carroll            906,326 60.4%         547,706           358,620 56.7%                     514,159                     203,445             3,419,480 0.15% 0.06%
09 Cass          2,996,033 28.7%         858,969        2,137,064 49.3%                  1,476,109                  1,052,906             5,565,468 0.27% 0.19%
10 Clark          5,145,210 50.4%      2,593,323        2,551,887 57.9%                  2,978,886                  1,477,448            15,000,000 0.20% 0.10%
11 Clay            602,565 62.7%         377,603           224,962 55.6%                     334,773                     124,984             3,317,854 0.10% 0.04%
12 Clinton          1,160,768 49.0%         568,497           592,271 50.1%                     581,313                     296,609             4,261,268 0.14% 0.07%
13 Crawford            133,035 51.7%           68,843             64,192 20.6%                       27,361                      13,202             1,044,176 0.03% 0.01%
14 Daviess          1,325,230 16.2%         214,397        1,110,834 48.0%                     636,136                     533,221             3,604,599 0.18% 0.15%
15 Dearborn          1,393,567 40.8%         567,903           825,664 60.2%                     838,800                     496,974             5,209,060 0.16% 0.10%
16 Decatur          1,241,088 64.8%         804,598           436,490 51.7%                     641,861                     225,742             3,759,764 0.17% 0.06%
17 DeKalb          2,962,065 81.5%      2,414,777           547,287 60.5%                  1,792,566                     331,204             6,785,088 0.26% 0.05%
18 Delaware          6,279,678 43.5%      2,734,448        3,545,231 56.4%                  3,544,868                  2,001,277            17,829,050 0.20% 0.11%
19 Dubois          3,140,081 61.7%      1,938,076        1,202,005 55.0%                  1,727,306                     661,203             7,381,065 0.23% 0.09%
20 Elkhart        16,667,971 68.7%     11,443,853        5,224,118 53.7%                  8,956,506                  2,807,171            31,268,636 0.29% 0.09%