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DATE:  6/27/04                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         RPT: VAL7175E
TIME: 18:42:41                                       2003 PROPERTY VALUE STUDY
                                                       FINAL VALUES WORKSHEET
                                                          092-907  Spring Hill
                                                              092  Gregg



               SB4, passed by the 1999 Legislature, requires the Comptroller to certify alternative measures of school

               district wealth (T1, T3 and T4) in addition to the traditional measure (T2).  Questions about the extent

               to which any of these wealth measures affect school funding should be directed to the Division of State

               Funding at the Texas Education Agency, telephone #512/463-9238.



                              LOSS TO                             50% OF THE LOSS
                            THE ADDITONAL                       TO THE LOCAL OPTIONAL
                          $10,000 HOMESTEAD                      PERCENTAGE HOMESTEAD
             T1              EXEMPTION                T2              EXEMPTION                T3                    T4
     -----------------     --------------     -----------------     -------------      -----------------     -----------------

           262,533,026         15,719,620           246,813,406         13,739,986           248,793,040           233,073,420


               T1 = School District Taxable Value Before the Loss to the Additional $10,000 Homestead Exemption.

               T2 = School District Taxable Value After the Loss to the Additional $10,000 Homestead Exemption.

               T3 = T1 Minus 50% of the Loss to the Local Optional Percentage Homestead Exemption.

               T4 = T2 Minus 50% of the Loss to the Local Optional Percentage Homestead Exemption.