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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     21:15                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        221-904-221 Merkel

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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         13,648,197     .9288      14,694,441        7
  2      A  - Single-family Residences         13,636,718     .9883      13,798,156        7
  3      A  - Single-family Residences         13,630,979     .9118      14,949,527        7
  4      A  - Single-family Residences         13,619,500     .9762      13,951,547       11
  5      D  - Rural Real                       29,005,202     .9338      31,061,471       20
  6      F  - Commercial Real                   4,619,764     .9406       4,911,508        7
  7      F  - Commercial Real                   4,596,684     .9519       4,828,957        7
  8      F  - Commercial Real                   4,808,247    1.0137       4,743,264        6
  9      G  - Oil, Gas, Minerals                9,744,527    1.0454       9,321,338       12
 10      L  - Commercial Personal               5,733,601     .9668       5,930,493        7
 11      L  - Commercial Personal               6,226,294     .8501       7,324,190        8

Random Totals:                                119,269,713               125,514,892       99
 Cat J Exception Values:                       12,951,897                13,021,280
 Cat D1 Exception Values:                      13,688,166                13,755,312
 Other Exception Values:                       15,210,274                15,912,449
Exception Totals(3):                           41,850,337                42,689,041
Test Values(4):                               161,120,050               168,203,933

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      8,410,197
Confidence Interval Values:
  State Lower Limit:                                      159,793,736  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       161,120,050  (Within Confidence Interval Limits)
  State Upper Limit:                                      176,614,130  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       164,877,434  (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.