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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     18:40                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        091-906-091 Sherman

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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        171,350,902    1.0064     170,261,230       70
  2      A  - Single-family Residences        171,350,902     .9810     174,669,625       70
  3      A  - Single-family Residences        171,495,197     .9819     174,656,479       69
  4      A  - Single-family Residences        171,206,606     .9969     171,738,997       65
  5      B  - Multi-family Residences          18,988,875     .9850      19,278,046       15
  6      B  - Multi-family Residences          21,986,280     .9505      23,131,278        7
  7      B  - Multi-family Residences          22,129,773     .9740      22,720,506        5
  8      F  - Commercial Real                  67,944,483     .9561      71,064,201       14
  9      F  - Commercial Real                  68,660,291    1.0199      67,320,611        6
 10      F  - Commercial Real                  67,944,483    1.0048      67,619,907        7
 11      F  - Commercial Real                  67,486,366    1.0100      66,818,184        6
 12      L  - Commercial Personal              37,429,503     .9545      39,213,728        8
 13      L  - Commercial Personal              37,570,984    1.0032      37,451,140        7
 14      L  - Commercial Personal              38,168,346     .9961      38,317,785        7
 15      L  - Commercial Personal              36,187,617     .9944      36,391,409        4

Random Totals:                              1,169,900,608             1,180,653,126      360
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       3,934,404                 3,269,790
 Other Exception Values:                       12,537,705                12,451,470
Exception Totals(3):                           16,472,109                15,721,260
Test Values(4):                             1,186,372,717             1,196,374,386

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     59,818,719
Confidence Interval Values:
  State Lower Limit:                                    1,136,555,667  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,186,372,717  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,256,193,105  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,542,237,367  (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.