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 6/27/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
17:34:20                                             2003 PROPERTY VALUE STUDY                                              LS0010P
                                                         INDEX CALCULATIONS
                                              APPRAISAL DISTRICT:  040  Cochran

-----------------------------------------------------------------------------------------------------------------------------------
                                                 <--------- REPORTED VALUE ------------->          INDEX          PTD ADJUSTED
        SCHOOL DISTRICT                          ACRES          PRODUCTIVITY       $/ACRE          FACTOR         $/ACRE
-----------------------------------------------------------------------------------------------------------------------------------

IRRIGATED CROPLAND  -  PTD VALUE:        176.50

        040-901    Morton                            46,341          10,529,940        227.23         1.0497         185.27
        040-902    Whiteface-Bledsoe C               46,255           9,514,320        205.69          .9502         167.71
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  92,596          20,044,260        216.47

DRY CROPLAND        -  PTD VALUE:        110.10

        040-901    Morton                            89,056          10,406,240        116.85         1.0740         118.25
        040-902    Whiteface-Bledsoe C              145,554          15,118,330        103.87          .9547         105.11
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 234,610          25,524,570        108.80

IMPROVED PASTURE    -  PTD VALUE:         51.80

        040-901    Morton                             1,884              41,880         22.23          .8329          43.14
        040-902    Whiteface-Bledsoe C               25,830             697,800         27.02         1.0124          52.44
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  27,714             739,680         26.69

NATIVE PASTURE      -  PTD VALUE:         26.30

        040-901    Morton                             8,829             251,030         28.43         1.0456          27.50
        040-902    Whiteface-Bledsoe C              166,405           4,513,370         27.12          .9974          26.23
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 175,234           4,764,400         27.19

SCHOOL DISTRICT ACREAGES AND PRODUCTIVITY VALUE TOTALS INCLUDE LAND RECLASSIFIED TO WILDLIFE AND TIMBER IN TRANSITION.
INDEX CALCULATIONS BASED ON ISD VALUES PER ACRE DIVIDED BY CAD AVERAGE VALUE PER ACRE.

                                                        ** End of Report **