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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:00                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        075-906-075 Fayetteville

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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          5,099,999     .9278       5,496,873        9
  2      A  - Single-family Residences          5,053,054     .9098       5,554,027        8
  3      A  - Single-family Residences          5,104,267     .9570       5,333,612       10
  4      A  - Single-family Residences          5,035,983     .9589       5,251,833        8
  5      D  - Rural Real                       45,641,150    1.0444      43,700,833       20
  6      G  - Oil, Gas, Minerals               16,659,070    1.0368      16,067,776       12

Random Totals:                                 82,593,523                81,404,954       67
 Cat J Exception Values:                        3,413,967                 3,242,886
 Cat D1 Exception Values:                       4,348,950                 3,936,251
 Other Exception Values:                                0                         0
Exception Totals(3):                            7,762,917                 7,179,137
Test Values(4):                                90,356,440                88,584,091

Margin of Error Percent:                                    7.3073742
Margin of Error Value:                                      6,473,171
Confidence Interval Values:
  State Lower Limit:                                       82,110,920  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        90,356,440  (Within Confidence Interval Limits)
  State Upper Limit:                                       95,057,262  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       103,514,914  (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.