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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     20:48                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        198-902-198 Calvert

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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          3,931,174     .9245       4,252,216       10
  2      A  - Single-family Residences          3,979,276     .9684       4,109,124       10
  3      A  - Single-family Residences          3,901,316     .9875       3,950,700       11
  4      A  - Single-family Residences          3,944,443    1.1050       3,569,632       16
  5      D  - Rural Real                        7,187,550    1.0366       6,933,774       10

Random Totals:                                 22,943,759                22,815,446       57
 Cat J Exception Values:                        9,355,045                 9,630,401
 Cat D1 Exception Values:                       5,888,610                 6,144,347
 Other Exception Values:                        1,028,755                 1,035,581
Exception Totals(3):                           16,272,410                16,810,329
Test Values(4):                                39,216,169                39,625,775

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      1,981,289
Confidence Interval Values:
  State Lower Limit:                                       37,644,486  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        39,216,169  (Within Confidence Interval Limits)
  State Upper Limit:                                       41,607,064  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        53,067,579  (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.