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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:36                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        105-906-105 Hays CISD

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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        318,321,758     .9113     349,305,122       45
  2      A  - Single-family Residences        319,393,999     .9950     320,998,994       60
  3      A  - Single-family Residences        317,249,516     .9883     321,005,278       58
  4      A  - Single-family Residences        318,321,758     .9932     320,501,166       48
  5      D  - Rural Real                      119,007,865     .9750     122,059,349       13

Random Totals:                              1,392,294,896             1,433,869,909      224
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       8,498,250                 8,461,594
 Other Exception Values:                                0                         0
Exception Totals(3):                            8,498,250                 8,461,594
Test Values(4):                             1,400,793,146             1,442,331,503

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     72,116,575
Confidence Interval Values:
  State Lower Limit:                                    1,370,214,928  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,400,793,146  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,514,448,078  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,755,402,580  (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.