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 6/27/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
20:12:16                                             2003 PROPERTY VALUE STUDY                                              LS0010P
                                                         INDEX CALCULATIONS
                                              APPRAISAL DISTRICT:  165  Midland

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

IRRIGATED CROPLAND  -  PTD VALUE:        371.00

        165-901    Midland                            6,772           1,580,990        233.46          .9992         370.70
        165-902    Greenwood                          3,174             742,800        234.03         1.0017         371.63
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                   9,946           2,323,790        233.64

DRY CROPLAND        -  PTD VALUE:         82.60

        165-901    Midland                           30,675           3,726,560        121.49          .9914          81.89
        165-902    Greenwood                         21,346           2,648,080        124.06         1.0124          83.62
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  52,021           6,374,640        122.54

IMPROVED PASTURE    -  PTD VALUE:           .00

        165-901    Midland                                0                   0           .00          .0000            .00
        165-902    Greenwood                              5                 660        132.00         1.0000            .00
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                       5                 660        132.00

NATIVE PASTURE      -  PTD VALUE:         10.90

        165-901    Midland                          376,963           2,972,690          7.89          .9987          10.89
        165-902    Greenwood                         43,577             348,618          8.00         1.0127          11.04
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 420,540           3,321,308          7.90

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 **