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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:33                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        103-901-103 Channing

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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      D  - Rural Real                        5,515,229     .9672       5,702,263       10
  2      G  - Oil, Gas, Minerals               16,420,581    1.0358      15,853,042       41

Random Totals:                                 21,935,810                21,555,305       51
 Cat J Exception Values:                       14,457,910                15,130,429
 Cat D1 Exception Values:                      34,205,386                33,376,596
 Other Exception Values:                           20,000                    23,000
Exception Totals(3):                           48,683,296                48,530,025
Test Values(4):                                70,619,106                70,085,330

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      3,504,267
Confidence Interval Values:
  State Lower Limit:                                       66,581,063  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        70,619,106  (Within Confidence Interval Limits)
  State Upper Limit:                                       73,589,597  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        92,255,351  (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.