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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:10                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        086-901-086 Fredericksburg

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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        146,480,272     .9500     154,189,760       41
  2      A  - Single-family Residences        146,603,572     .9625     152,315,399       44
  3      A  - Single-family Residences        146,233,672     .9907     147,606,412       44
  4      A  - Single-family Residences        146,356,972     .9447     154,924,285       43
  5      D  - Rural Real                      408,779,569    1.0139     403,175,431       70
  6      F  - Commercial Real                  49,666,112     .9469      52,451,275        7
  7      F  - Commercial Real                  49,624,446    1.0519      47,176,011        7
  8      F  - Commercial Real                  49,291,116    1.0572      46,624,211        7
  9      F  - Commercial Real                  49,291,116     .9505      51,858,092        6

Random Totals:                              1,192,326,847             1,210,320,876      269
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                      32,518,000                34,748,047
 Other Exception Values:                                0                         0
Exception Totals(3):                           32,518,000                34,748,047
Test Values(4):                             1,224,844,847             1,245,068,923

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     62,253,446
Confidence Interval Values:
  State Lower Limit:                                    1,182,815,477  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,224,844,847  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,307,322,369  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,184,224,045  (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.