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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     17:11                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        019-913-019 Hubbard

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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            675,856     .9644         700,805        6
  2      A  - Single-family Residences            661,781     .9214         718,234        5
  3      A  - Single-family Residences            724,272     .9710         745,903        5
  4      A  - Single-family Residences            624,343    1.0113         617,367        4
  5      D  - Rural Real                        8,695,146    1.0453       8,318,326       10

Random Totals:                                 11,381,398                11,100,635       30
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       1,047,716                   970,283
 Other Exception Values:                                0                         0
Exception Totals(3):                            1,047,716                   970,283
Test Values(4):                                12,429,114                12,070,918

Margin of Error Percent:                                    6.9868754
Margin of Error Value:                                        843,380
Confidence Interval Values:
  State Lower Limit:                                       11,227,538  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        12,429,114  (Within Confidence Interval Limits)
  State Upper Limit:                                       12,914,298  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                         9,727,644  (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.