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 6/27/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
20:00:35                                             2003 PROPERTY VALUE STUDY                                              LS0010P
                                                         INDEX CALCULATIONS
                                              APPRAISAL DISTRICT:  154  Madison

-----------------------------------------------------------------------------------------------------------------------------------
                                                 <--------- REPORTED VALUE ------------->          INDEX          PTD ADJUSTED
        SCHOOL DISTRICT                          ACRES          PRODUCTIVITY       $/ACRE          FACTOR         $/ACRE
-----------------------------------------------------------------------------------------------------------------------------------

IRRIGATED CROPLAND  -  PTD VALUE:           .00

        154-901    Madisonville CISD                      0                   0           .00          .0000            .00
        154-903    North Zulch                            0                   0           .00          .0000            .00
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                       0                   0           .00

DRY CROPLAND        -  PTD VALUE:           .00

        154-901    Madisonville CISD                      0                   0           .00          .0000            .00
        154-903    North Zulch                            0                   0           .00          .0000            .00
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                       0                   0           .00

IMPROVED PASTURE    -  PTD VALUE:         88.70

        154-901    Madisonville CISD                 37,975           2,943,950         77.52         1.0047          89.12
        154-903    North Zulch                        7,080             532,590         75.22          .9749          86.47
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  45,055           3,476,540         77.16

NATIVE PASTURE      -  PTD VALUE:         58.70

        154-901    Madisonville CISD                196,572          11,473,990         58.37         1.0019          58.81
        154-903    North Zulch                       42,649           2,463,510         57.76          .9914          58.20
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 239,221          13,937,500         58.26

SCHOOL DISTRICT ACREAGES AND PRODUCTIVITY VALUE TOTALS INCLUDE LAND RECLASSIFIED TO WILDLIFE AND TIMBER IN TRANSITION.
INDEX CALCULATIONS BASED ON ISD VALUES PER ACRE DIVIDED BY CAD AVERAGE VALUE PER ACRE.

                                                        ** End of Report **