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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     18:42                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        092-904-092 Pine Tree

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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        147,521,903     .9204     160,280,208       57
  2      A  - Single-family Residences        147,521,903     .9500     155,286,214       56
  3      A  - Single-family Residences        147,584,018     .9740     151,523,632       57
  4      A  - Single-family Residences        147,397,674     .9792     150,528,670       54
  5      B  - Multi-family Residences          12,934,988     .8325      15,537,523        9
  6      B  - Multi-family Residences          12,848,285     .9533      13,477,693        8
  7      B  - Multi-family Residences          13,818,273    1.0405      13,280,416       12
  8      B  - Multi-family Residences          11,889,134     .9979      11,914,154        3
  9      F  - Commercial Real                  25,869,189     .9454      27,363,221        9
 10      F  - Commercial Real                  25,945,500     .9798      26,480,404        9
 11      F  - Commercial Real                  26,817,617    1.0082      26,599,501        9
 12      F  - Commercial Real                  24,975,269     .9884      25,268,382        8
 13      G  - Oil, Gas, Minerals               97,621,910    1.0074      96,904,814       12
 14      L  - Commercial Personal              21,214,300    1.0187      20,824,875        7
 15      L  - Commercial Personal              21,258,868    1.1736      18,114,237        7
 16      L  - Commercial Personal              21,561,929     .9968      21,631,149        6
 17      L  - Commercial Personal              20,670,572    1.0720      19,282,250        5

Random Totals:                                927,451,332               954,297,343      328
 Cat J Exception Values:                       31,083,350                30,620,079
 Cat D1 Exception Values:                         948,280                 1,232,703
 Other Exception Values:                                0                         0
Exception Totals(3):                           32,031,630                31,852,782
Test Values(4):                               959,482,962               986,150,125

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     49,307,506
Confidence Interval Values:
  State Lower Limit:                                      936,842,619  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       959,482,962  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,035,457,631  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,162,127,749  (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.