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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     12:43                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        009-901-009 Muleshoe

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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         12,355,921     .8841      13,975,705       19
  2      A  - Single-family Residences         12,329,941     .9210      13,387,558       18
  3      A  - Single-family Residences         12,361,117     .8036      15,382,176       15
  4      A  - Single-family Residences         12,314,353     .8707      14,143,049       14
  5      D  - Rural Real                       18,530,206     .9123      20,311,527       18
  6      F  - Commercial Real                   3,928,732     .7544       5,207,757        8
  7      F  - Commercial Real                   3,945,267     .8798       4,484,277        7
  8      F  - Commercial Real                   3,945,267     .9479       4,162,113        6
  9      L  - Commercial Personal               3,245,547     .9402       3,451,975        7
 10      L  - Commercial Personal               3,135,346    1.0988       2,853,427        6

Random Totals:                                 86,091,697                97,359,564      118
 Cat J Exception Values:                       14,375,710                14,337,801
 Cat D1 Exception Values:                      33,272,924                23,649,643
 Other Exception Values:                        6,955,808                 7,149,467
Exception Totals(3):                           54,604,442                45,136,911
Test Values(4):                               140,696,139               142,496,475

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      7,124,824
Confidence Interval Values:
  State Lower Limit:                                      135,371,651  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       140,696,139  (Within Confidence Interval Limits)
  State Upper Limit:                                      149,621,299  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       173,182,086  (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.