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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     18:14                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        070-907-070 Italy

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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         12,562,892    1.0595      11,857,378       12
  2      A  - Single-family Residences         12,547,063     .9784      12,824,063       13
  3      A  - Single-family Residences         12,531,234     .9505      13,183,834       20
  4      A  - Single-family Residences         12,510,129    1.2184      10,267,670       16
  5      D  - Rural Real                       17,415,480     .8941      19,478,224       22

Random Totals:                                 67,566,798                67,611,169       83
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       3,355,590                 3,576,049
 Other Exception Values:                                0                         0
Exception Totals(3):                            3,355,590                 3,576,049
Test Values(4):                                70,922,388                71,187,218

Margin of Error Percent:                                    7.6919314
Margin of Error Value:                                      5,475,672
Confidence Interval Values:
  State Lower Limit:                                       65,711,546  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        70,922,388  (Within Confidence Interval Limits)
  State Upper Limit:                                       76,662,890  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        74,658,252  (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.