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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     20:24                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        175-907-175 Kerens

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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          8,972,325     .9626       9,320,928       13
  2      A  - Single-family Residences          8,942,141     .9113       9,812,511       13
  3      A  - Single-family Residences          8,957,233     .9394       9,535,057       13
  4      A  - Single-family Residences          8,972,325    1.0145       8,844,086       13
  5      C  - Vacant Lots                       2,892,591     .9781       2,957,357        7
  6      C  - Vacant Lots                       3,332,450     .9149       3,642,420        7
  7      C  - Vacant Lots                       2,464,916     .9311       2,647,316        6
  8      C  - Vacant Lots                       2,884,062     .8697       3,316,157        6
  9      D  - Rural Real                       33,270,291    1.0032      33,164,166       27

Random Totals:                                 80,688,334                83,239,998      105
 Cat J Exception Values:                       14,161,946                14,717,031
 Cat D1 Exception Values:                      11,381,420                 9,671,472
 Other Exception Values:                                0                         0
Exception Totals(3):                           25,543,366                24,388,503
Test Values(4):                               106,231,700               107,628,501

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      5,381,425
Confidence Interval Values:
  State Lower Limit:                                      102,247,076  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       106,231,700  (Within Confidence Interval Limits)
  State Upper Limit:                                      113,009,926  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       111,705,131  (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.