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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     13:52                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        070-912-070 Waxahachie

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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        209,232,302    1.0282     203,493,777       14
  2      A  - Single-family Residences        209,144,241     .9956     210,068,543       14
  3      A  - Single-family Residences        209,144,241    1.0375     201,584,811       13
  4      A  - Single-family Residences        209,144,241     .9868     211,941,874       14
  5      D  - Rural Real                       93,567,990     .9906      94,455,875       23
  6      F  - Commercial Real                  42,659,769    1.0273      41,526,106       14
  7      F  - Commercial Real                  42,302,335     .9625      43,950,478        7
  8      F  - Commercial Real                  42,570,411     .7982      53,333,013        8
  9      L  - Commercial Personal              19,331,456     .9382      20,604,835        7
 10      L  - Commercial Personal              19,307,099    1.0147      19,027,396        6
 11      L  - Commercial Personal              19,875,432     .9696      20,498,589        6
 12      L  - Commercial Personal              18,641,337    1.0037      18,572,618        4

Random Totals:                              1,134,920,854             1,139,057,915      130
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       9,851,070                10,758,740
 Other Exception Values:                       27,592,160                32,518,454
Exception Totals(3):                           37,443,230                43,277,194
Test Values(4):                             1,172,364,084             1,182,335,109

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     59,116,755
Confidence Interval Values:
  State Lower Limit:                                    1,123,218,354  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,172,364,084  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,241,451,864  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,724,740,874  (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.