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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     12:49                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        014-908-014 Salado

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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         62,063,906     .9655      64,281,622       18
  2      A  - Single-family Residences         61,156,539     .9727      62,872,971       17
  3      A  - Single-family Residences         61,675,034    1.0017      61,570,364       15
  4      A  - Single-family Residences         61,389,862     .9782      62,757,986       16
  5      D  - Rural Real                       66,115,081     .9608      68,812,532       12
  6      F  - Commercial Real                   8,915,255     .9564       9,321,680        7
  7      F  - Commercial Real                   9,141,531    1.0158       8,999,341        7
  8      F  - Commercial Real                   9,020,851     .9271       9,730,181        6
  9      F  - Commercial Real                   8,779,490     .9667       9,081,918        4

Random Totals:                                348,257,549               357,428,595      102
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       6,208,724                 6,768,293
 Other Exception Values:                                0                         0
Exception Totals(3):                            6,208,724                 6,768,293
Test Values(4):                               354,466,273               364,196,888

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     18,209,844
Confidence Interval Values:
  State Lower Limit:                                      345,987,044  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       354,466,273  (Within Confidence Interval Limits)
  State Upper Limit:                                      382,406,732  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       355,698,859  (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.