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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:22                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        097-903-097 Hico

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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          6,936,022    1.0274       6,751,043       16
  2      A  - Single-family Residences          6,979,884    1.1173       6,247,099       15
  3      A  - Single-family Residences          6,933,098    1.0569       6,559,843       18
  4      A  - Single-family Residences          6,944,794     .9070       7,656,884       16
  5      D  - Rural Real                       43,279,380    1.0014      43,218,874       13
  6      F  - Commercial Real                   2,207,480    1.0959       2,014,308       12
  7      F  - Commercial Real                   2,232,799     .9010       2,478,134        9
  8      F  - Commercial Real                   2,325,637    1.0356       2,245,690        9
  9      F  - Commercial Real                   2,150,277     .9587       2,242,909        4

Random Totals:                                 79,989,371                79,414,784      112
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                      10,022,182                10,943,775
 Other Exception Values:                                0                         0
Exception Totals(3):                           10,022,182                10,943,775
Test Values(4):                                90,011,553                90,358,559

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      4,517,928
Confidence Interval Values:
  State Lower Limit:                                       85,840,631  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        90,011,553  (Within Confidence Interval Limits)
  State Upper Limit:                                       94,876,487  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        86,658,729  (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.