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Date:   6/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     21:23                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        227-901-227 Austin

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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      5,353,358,968     .9462   5,657,745,686       99
  2      A  - Single-family Residences      5,353,358,968     .9613   5,568,874,408      100
  3      A  - Single-family Residences      5,353,358,968     .9294   5,760,016,105      100
  4      A  - Single-family Residences      5,353,358,968     .9242   5,792,424,765      100
  5      B  - Multi-family Residences       1,200,654,236     .9042   1,327,863,566       55
  6      B  - Multi-family Residences       1,205,709,622     .9320   1,293,679,852       36
  7      B  - Multi-family Residences       1,202,170,851     .9297   1,293,073,950       10
  8      B  - Multi-family Residences       1,194,587,772     .9817   1,216,856,241        9
  9      C  - Vacant Lots                     145,184,572     .9676     150,046,064       53
 10      C  - Vacant Lots                     135,561,044     .8796     154,116,694       27
 11      C  - Vacant Lots                     140,610,426     .9042     155,508,102       12
 12      C  - Vacant Lots                     140,135,190     .9733     143,979,441        7
 13      D  - Rural Real                      350,322,527     .9347     374,796,755       18
 14      F  - Commercial Real               2,307,101,624     .9213   2,504,180,640       43
 15      F  - Commercial Real               2,308,073,445     .9906   2,329,975,212       13
 16      F  - Commercial Real               2,329,453,493     .9958   2,339,278,463        9
 17      F  - Commercial Real               2,284,749,755    1.0340   2,209,622,587        9
 18      L  - Commercial Personal             708,743,123    1.0404     681,221,764        7
 19      L  - Commercial Personal             708,743,123     .9822     721,587,378        9
 20      L  - Commercial Personal             710,831,171     .9382     757,654,201        7
 21      L  - Commercial Personal             705,461,905     .9689     728,106,002        8

Random Totals:                             39,191,529,751            41,160,607,876      731
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       7,921,217                 8,422,101
 Other Exception Values:                                0                         0
Exception Totals(3):                            7,921,217                 8,422,101
Test Values(4):                            39,199,450,968            41,169,029,977

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                  2,058,451,499
Confidence Interval Values:
  State Lower Limit:                                   39,110,578,478  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                    39,199,450,968  (Within Confidence Interval Limits)
  State Upper Limit:                                   43,227,481,476  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                    38,774,488,100  (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.