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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     18:46                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        095-902-095 Cotton Center

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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            456,829     .9780         467,105        6
  2      A  - Single-family Residences            448,972    1.0299         435,937        5
  3      A  - Single-family Residences            503,971     .9728         518,062        4
  4      D  - Rural Real                        6,694,400     .9954       6,725,337       10

Random Totals:                                  8,104,172                 8,146,441       25
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                      15,168,216                14,150,927
 Other Exception Values:                          391,385                   381,467
Exception Totals(3):                           15,559,601                14,532,394
Test Values(4):                                23,663,773                22,678,835

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      1,133,942
Confidence Interval Values:
  State Lower Limit:                                       21,544,893  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        23,663,773  (Within Confidence Interval Limits)
  State Upper Limit:                                       23,812,777  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        26,248,436  (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.