TAX ABATEMENT

The Collection at Morristown is the only new construction in

the area to offer a special 30-year tax abatement! This
means your monthly payments will go DOWN and the
amount of home you can afford will go UP!

ESTIMATED ESTIMATED ANNUAL

PERIOD TAXES WITHOUT SERVICE CHARGE PAYMENT
THE ABATEMENT* WITH THE ABATEMENT*
YEARS 1-15 $10,789.89 $6,672.60
YEARS 16-21 $10,789.89 $6,672.60
YEARS 22-27 $10,789.89 $6,672.60
YEARS 28-29 $10,789.89 $6,672.60
YEAR 30 $10,789.89 $8,631.91

*The program is called a PILOT (Payment In Lieu Of Taxes) and the calculations above
are based on a $600,000 purchase price and assume that the taxes will stay at the 2019
tax rate of $1.813 per $100 of assessed value and the assessed value ratio was 99.19%.
Changes to HOA fees may affect the calculation of the annual service charge payment.

Additional details regarding The Collection at Morristown Tax Abatement are available
in the Public Offering Statement, Section 11.

191 E Hanover Ave, Morristown, NJ 07960 | 609.349.8258 | Lennar.com

*There is no guarantee that the PILOT will be exactly as stated or that it will not change as explained above. Each buyer should review the calculation of the initial PILOT based on the
final purchase price and HOA fees for the unit purchased. Once participating in the PILOT, a tax appeal may not be filed. There is also no guarantee that the real property taxes assessed
against the unit if no PILOT applied will be stated in this example. The information above is for illustrative purposes and is not provided as a guarantee of what the actual PILOT or real
property taxes associated with any specific unit will be. If a property that is part of the PILOT is resold after the initial purchase, there will be a new calculation of the annual service
charge payments. All tax related information is an estimate, subject to errors and omissions and is a representation of payment estimates calculated using multiple assumptions that will
differ for every homeowner. Please speak with the Morris Township Tax Assessor office to learn the actual payment details and specific terms of The Collection at Morristown tax
abatement. Payments in lieu of taxes will not be calculated by Lennar or The Collection at Morristown and Lennar and The Collection at Morristown makes no representation that an
exact tax payment can be calculated by anyone other than the Morris Township Tax Assessment office. Visit Lennar.com or see a Lennar New Home Consultant for further details and
disclaimers. This is not an offer in states where prior registration is required. Void where prohibited by law. Copyright © 2019 Lennar Corporation. Lennar, the Lennar logo Everything’s
Included, the Everything’s Included® logo and The Collection at Morristown and The Collection at Morristown logo are U.S. registered service marks or service marks of Lennar
Corporation and/or its subsidiaries. Date 02/19