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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     17:09                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        018-903-018 Morgan

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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          4,816,563     .8874       5,427,725        7
  2      A  - Single-family Residences          4,828,752     .9914       4,870,639        7
  3      A  - Single-family Residences          4,920,167     .9926       4,956,848        7
  4      A  - Single-family Residences          4,745,463    1.0433       4,548,512        6
  5      C  - Vacant Lots                         917,514     .9962         921,014       10
  6      C  - Vacant Lots                         921,377     .9990         922,299        7
  7      C  - Vacant Lots                         946,101    1.0066         939,898        7
  8      C  - Vacant Lots                         886,222     .9925         892,919        5
  9      D  - Rural Real                       12,956,695     .9836      13,172,728       10

Random Totals:                                 35,938,854                36,652,582       66
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       2,705,910                 2,436,555
 Other Exception Values:                                0                         0
Exception Totals(3):                            2,705,910                 2,436,555
Test Values(4):                                38,644,764                39,089,137

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      1,954,457
Confidence Interval Values:
  State Lower Limit:                                       37,134,680  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        38,644,764  (Within Confidence Interval Limits)
  State Upper Limit:                                       41,043,594  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        39,488,021  (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.