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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
                                                        198-903-198 Franklin

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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         12,129,465     .9415      12,883,128        7
  2      A  - Single-family Residences         12,129,465     .8969      13,523,765        9
  3      A  - Single-family Residences         12,154,968     .9995      12,161,049        9
  4      A  - Single-family Residences         12,052,954    1.0203      11,813,147        8
  5      D  - Rural Real                       52,513,930     .9219      56,962,718       12
  6      G  - Oil, Gas, Minerals              184,361,410    1.0511     175,398,544       31

Random Totals:                                285,342,192               282,742,351       76
 Cat J Exception Values:                       17,865,916                18,492,589
 Cat D1 Exception Values:                      12,834,170                13,077,459
 Other Exception Values:                                0                         0
Exception Totals(3):                           30,700,086                31,570,048
Test Values(4):                               316,042,278               314,312,399

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     15,715,620
Confidence Interval Values:
  State Lower Limit:                                      298,596,779  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       316,042,278  (Within Confidence Interval Limits)
  State Upper Limit:                                      330,028,019  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       354,978,290  (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.