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 6/27/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
17:07:06                                               2003 PROPERTY VALUE STUDY                                            LS0007P
                                                       CAD PRODUCTIVITY VALUES
                                              APPRAISAL DISTRICT:  016  Blanco

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                                 --------------------------------------------------------------------------------------------------
PRODUCTIVITY COMPARISON                           Qualified         <---- Reported Value ----->          <-- PTD Value Estimate -->
                                 Category           Acres           $/Acre         Productivity          $/Acre        Productivity
                                 --------------------------------------------------------------------------------------------------
                                 Irrig Crop           6,622           119.62            792,100     P       202.00        1,337,549
                                 Dry Crop             3,032            89.04            269,980     P        72.00          218,317
                                 Barren               1,412            23.85             33,680              23.85           33,680
                                 Orchard                358           394.27            141,150             394.27          141,150
                                 Improved Past       20,954            81.01          1,697,480     P        62.20        1,303,247
                                 Native Pst         458,708            61.94         28,412,998     P        76.40       35,041,277
                                 Wildlife            31,467                           2,053,180                           2,408,418
                                 Timb at Prod             0                                   0                                   0
                                 Timb at 1978             0                                   0                                   0
                                 Timb in Trans            0                                   0                                   0
                                 Timb at Restr            0                                   0                                   0
                                 Other                    0                                   0                                   0

                                 TOTALS:            522,553                         $33,400,568                         $40,483,638
                                 RATIO:         .8250
                                                          P = Indicates PTD CAD $/Acre estimate, not calculated from Reported Value

                                 --------------------------------------------------------------------------------------------------
                                                          Qualified         <--- PTD Value Estimate ---->
 WILDLIFE                        Category                   Acres           $/Acre           Productivity
                                 --------------------------------------------------------------------------------------------------
                                 Irrig Crop                       0                                     0
                                 Dry Crop                         0                                     0
                                 Barren                           0                                     0
                                 Orchard                          0                                     0
                                 Improved Pst                     0                                     0
                                 Native Pst                  31,467            76.54            2,408,418
                                 Other                            0                                     0

                                 TOTALS:                     31,467                            $2,408,418

                                 --------------------------------------------------------------------------------------------------
                                                          Qualified         <--- PTD Value Estimate ---->
TIMBER IN TRANSITION             Category                   Acres           $/Acre           Productivity
                                 --------------------------------------------------------------------------------------------------
                                 Irrig Crop                       0                                     0
                                 Dry Crop                         0                                     0
                                 Barren                           0                                     0
                                 Orchard                          0                                     0
                                 Improved Pst                     0                                     0
                                 Native Pst                       0                                     0
                                 Wildlife                         0                                     0
                                 Other                            0                                     0

                                 TOTALS:                          0                                    $0

                                             Appraisal District is not in Timber Region


                                                       *** End of Report ***