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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     12:57                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        019-906-019 Redwater

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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         18,562,963     .9153      20,280,742        7
  2      A  - Single-family Residences         18,602,043     .9081      20,484,575        7
  3      A  - Single-family Residences         18,555,147     .9092      20,408,213        7
  4      A  - Single-family Residences         18,539,515    1.0119      18,321,489        7
  5      D  - Rural Real                       35,724,501    1.0090      35,405,848       10

Random Totals:                                109,984,169               114,900,867       38
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       3,799,696                 3,330,123
 Other Exception Values:                                0                         0
Exception Totals(3):                            3,799,696                 3,330,123
Test Values(4):                               113,783,865               118,230,990

Margin of Error Percent:                                    5.9186234
Margin of Error Value:                                      6,997,647
Confidence Interval Values:
  State Lower Limit:                                      111,233,343  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       113,783,865  (Within Confidence Interval Limits)
  State Upper Limit:                                      125,228,637  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       114,737,461  (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.