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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     16:49                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        001-903-001 Elkhart

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                                                              (1)                         (2)
  (1)                  (1)                        (1)       Stratum         (1)         Sample
Stratum              Category                 Local Value    Ratio      State Value      Size
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  1      A  - Single-family Residences         11,603,737     .8279      14,015,868       11
  2      A  - Single-family Residences         11,608,618    1.1778       9,856,188        7
  3      A  - Single-family Residences         11,579,328     .9205      12,579,389        9
  4      A  - Single-family Residences         11,589,092     .9810      11,813,549        9
  5      D  - Rural Real                       67,382,940     .8762      76,903,606       36

Random Totals:                                113,763,715               125,168,600       72
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                      11,125,744                 9,648,470
 Other Exception Values:                                0                         0
Exception Totals(3):                           11,125,744                 9,648,470
Test Values(4):                               124,889,459               134,817,070

Margin of Error Percent:                                    5.1463861
Margin of Error Value:                                      6,938,207
Confidence Interval Values:
  Local Test Value:                                       124,889,459  (Outside of ConfidenceInterval Limits)
  State Lower Limit:                                      127,878,863  (State Test Value Minus Margin of Error Value)
  State Upper Limit:                                      141,755,277  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       133,596,805  (See ISD Summary Worksheet)


Sources:

(1) See Stratified Ratio Detail Report VAL7214.
(2) Number of parcels sampled by staff.
(3) Exception value includes, if tested, D1, the J sample, and any parcels in A,B,C,D,F1,G or L1 marked as exception properties.
(4) Unstudied categories and sub-categories were not included in the test values.
(5) Includes local value of unstudied property categories and sub-categories.