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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     19:13                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        109-914-109 Penelope

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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          1,403,414    1.0344       1,356,742        7
  2      A  - Single-family Residences          1,408,671    1.0274       1,371,103        7
  3      A  - Single-family Residences          1,407,503    1.0221       1,377,070        5
  4      A  - Single-family Residences          1,341,508    1.0305       1,301,803        8
  5      D  - Rural Real                        6,477,890     .9005       7,193,659       10

Random Totals:                                 12,038,986                12,600,377       37
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       4,013,130                 2,640,200
 Other Exception Values:                                0                         0
Exception Totals(3):                            4,013,130                 2,640,200
Test Values(4):                                16,052,116                15,240,577

Margin of Error Percent:                                   11.1143627
Margin of Error Value:                                      1,693,893
Confidence Interval Values:
  State Lower Limit:                                       13,546,684  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        16,052,116  (Within Confidence Interval Limits)
  State Upper Limit:                                       16,934,470  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        14,690,516  (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.