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 1/22/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
13:26:15                                             2003 PROPERTY VALUE STUDY                                              LS0010P
                                                         INDEX CALCULATIONS
                                              APPRAISAL DISTRICT:  045  Colorado

-----------------------------------------------------------------------------------------------------------------------------------
                                                 <--------- REPORTED VALUE ------------->          INDEX          PTD ADJUSTED
        SCHOOL DISTRICT                          ACRES          PRODUCTIVITY       $/ACRE          FACTOR         $/ACRE
-----------------------------------------------------------------------------------------------------------------------------------

IRRIGATED CROPLAND  -  PTD VALUE:        266.90

        045-902    Columbus                           2,963             791,070        266.98         1.0255         273.71
        045-903    Rice CISD                        113,889          29,630,528        260.17          .9993         266.71
        045-905    Weimar                                 0                   0           .00          .0000            .00
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 116,852          30,421,598        260.34

DRY CROPLAND        -  PTD VALUE:        285.20

        045-902    Columbus                           2,640             813,142        308.01         1.0000         285.20
        045-903    Rice CISD                         14,545           4,479,709        307.99         1.0000         285.20
        045-905    Weimar                             1,055             325,020        308.08         1.0003         285.29
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  18,240           5,617,871        308.00

IMPROVED PASTURE    -  PTD VALUE:        115.50

        045-902    Columbus                          33,717           4,383,712        130.01         1.0006         115.57
        045-903    Rice CISD                         12,807           1,659,939        129.61          .9975         115.21
        045-905    Weimar                            23,029           2,993,318        129.98         1.0004         115.55
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  69,553           9,036,969        129.93

NATIVE PASTURE      -  PTD VALUE:         93.60

        045-902    Columbus                         189,959          17,858,362         94.01          .9993          93.53
        045-903    Rice CISD                        100,456           9,470,265         94.27         1.0020          93.79
        045-905    Weimar                            79,613           7,485,177         94.02          .9994          93.54
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 370,028          34,813,804         94.08

SCHOOL DISTRICT ACREAGES AND PRODUCTIVITY VALUE TOTALS INCLUDE LAND RECLASSIFIED TO WILDLIFE AND TIMBER IN TRANSITION.
INDEX CALCULATIONS BASED ON ISD VALUES PER ACRE DIVIDED BY CAD AVERAGE VALUE PER ACRE.

                                                        ** End of Report **