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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     13:57                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        072-903-072 Stephenville

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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         82,079,461    1.0193      80,525,322       85
  2      A  - Single-family Residences         82,079,461    1.0026      81,866,608       73
  3      A  - Single-family Residences         82,148,581    1.0287      79,856,694       77
  4      A  - Single-family Residences         81,975,782     .9960      82,305,002       35
  5      D  - Rural Real                      129,553,319    1.0605     122,162,488       25
  6      F  - Commercial Real                  36,411,993     .9039      40,283,209       17
  7      F  - Commercial Real                  36,411,993     .9115      39,947,332       14
  8      F  - Commercial Real                  37,068,753     .8689      42,661,702       16
  9      F  - Commercial Real                  35,220,661    1.1197      31,455,444        4
 10      L  - Commercial Personal              17,972,690     .9762      18,410,869        8
 11      L  - Commercial Personal              17,942,471    1.0058      17,839,005        9
 12      L  - Commercial Personal              17,950,026    1.0304      17,420,444        7
 13      L  - Commercial Personal              17,912,253    1.0484      17,085,323        4

Random Totals:                                674,727,444               671,819,442      374
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                      14,783,270                12,909,440
 Other Exception Values:                                0                         0
Exception Totals(3):                           14,783,270                12,909,440
Test Values(4):                               689,510,714               684,728,882

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     34,236,444
Confidence Interval Values:
  State Lower Limit:                                      650,492,438  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       689,510,714  (Within Confidence Interval Limits)
  State Upper Limit:                                      718,965,326  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       760,504,986  (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.