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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     13:27                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        046-901-046 New Braunfels

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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        328,257,028     .9855     333,086,786       56
  2      A  - Single-family Residences        327,980,718    1.0065     325,862,611       52
  3      A  - Single-family Residences        328,257,028    1.0125     324,204,472       39
  4      A  - Single-family Residences        327,980,718    1.0122     324,027,582       45
  5      F  - Commercial Real                  56,427,980    1.0525      53,613,283        9
  6      F  - Commercial Real                  56,856,186    1.0327      55,055,859       10
  7      F  - Commercial Real                  58,140,802     .8905      65,290,064        7
  8      F  - Commercial Real                  54,572,423    1.0053      54,284,714        6
  9      L  - Commercial Personal              23,145,137    1.0110      22,893,311        7
 10      L  - Commercial Personal              23,154,853     .9360      24,738,091        7
 11      L  - Commercial Personal              25,088,473    1.1132      22,537,256        6
 12      L  - Commercial Personal              20,910,300     .9896      21,130,053        3

Random Totals:                              1,630,771,646             1,626,724,082      247
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       2,295,840                 2,213,597
 Other Exception Values:                                0                         0
Exception Totals(3):                            2,295,840                 2,213,597
Test Values(4):                             1,633,067,486             1,628,937,679

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     81,446,884
Confidence Interval Values:
  State Lower Limit:                                    1,547,490,795  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,633,067,486  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,710,384,563  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,661,129,617  (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.