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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
                                                        227-913-227 Lake Travis

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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        658,719,090     .9496     693,680,592       63
  2      A  - Single-family Residences        658,719,090     .9478     694,997,985       64
  3      A  - Single-family Residences        658,996,446     .9631     684,245,090       65
  4      A  - Single-family Residences        658,441,735     .9749     675,394,128       29
  5      C  - Vacant Lots                      59,048,828     .8482      69,616,633       49
  6      C  - Vacant Lots                      59,853,925     .9781      61,194,075       31
  7      C  - Vacant Lots                      58,294,049     .8917      65,374,060       24
  8      C  - Vacant Lots                      59,048,828    1.0027      58,889,825        9
  9      D  - Rural Real                      227,494,763     .9302     244,565,430       26
 10      F  - Commercial Real                  60,134,235     .9789      61,430,417        9
 11      F  - Commercial Real                  61,320,763     .9906      61,902,648        7
 12      F  - Commercial Real                  58,392,311    1.0069      57,992,165        7
 13      F  - Commercial Real                  60,108,990     .9843      61,067,754        3

Random Totals:                              3,338,573,053             3,490,350,802      386
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       3,321,981                 4,001,331
 Other Exception Values:                                0                         0
Exception Totals(3):                            3,321,981                 4,001,331
Test Values(4):                             3,341,895,034             3,494,352,133

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                    174,717,607
Confidence Interval Values:
  State Lower Limit:                                    3,319,634,526  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     3,341,895,034  (Within Confidence Interval Limits)
  State Upper Limit:                                    3,669,069,740  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     3,277,033,414  (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.