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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     17:02                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        014-910-014 Troy

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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         19,216,887    1.0448      18,392,886       24
  2      A  - Single-family Residences         19,249,252     .9967      19,312,985       13
  3      A  - Single-family Residences         19,265,435    1.0312      18,682,540       10
  4      A  - Single-family Residences         19,152,156     .9961      19,227,142       12
  5      D  - Rural Real                       52,468,788     .9485      55,317,647       26
  6      F  - Commercial Real                   1,334,457     .9667       1,380,425        7
  7      F  - Commercial Real                   1,292,184     .9926       1,301,817        6
  8      F  - Commercial Real                   1,279,616     .9660       1,324,654        4

Random Totals:                                133,258,775               134,940,096      102
 Cat J Exception Values:                       11,779,799                12,385,206
 Cat D1 Exception Values:                      10,035,178                 8,647,050
 Other Exception Values:                        7,421,728                 7,381,949
Exception Totals(3):                           29,236,705                28,414,205
Test Values(4):                               162,495,480               163,354,301

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      8,167,715
Confidence Interval Values:
  State Lower Limit:                                      155,186,586  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       162,495,480  (Within Confidence Interval Limits)
  State Upper Limit:                                      171,522,016  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       160,054,454  (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.