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DATE:   6/27/2004        Comptroller Of Public Accounts             PAGE:      4
TIME: 18:26                  Property Tax Division                  RPT: UTL7000
                           2003 Property Value Study
                         Utilities Category Worksheet
                           KENDLETON / 079-908-079
                               FORT BEND / 079

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    Company         ISD Appraised              PTD Market           Indicated
    Number              Value                    Value                Ratio
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     21002                 14,400                   14,170           1.0162
     31004                461,510                  475,024            .9716
     41002                792,690                  804,645            .9851
     61109                220,030                  247,760            .8881
     61116                 75,150                   79,602            .9441


   Totals:              1,563,780                1,621,201            .9646


            Utility Weighted Mean Ratio For Sample:                   .9646

            Total Self-Reported Utility Value (J1-J8):            3,296,050

            Divided By ISD Utility Weighted Mean Ratio:               .9646

            Estimated PTD Utility Market Value:                   3,417,012