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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:45                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        109-903-109 Covington

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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          2,624,243     .9618       2,728,471        7
  2      A  - Single-family Residences          2,639,654     .9879       2,671,985        8
  3      A  - Single-family Residences          2,613,235    1.0341       2,527,062        6
  4      A  - Single-family Residences          2,591,220    1.0562       2,453,342       11
  5      D  - Rural Real                       21,445,820     .9631      22,267,490       11

Random Totals:                                 31,914,172                32,648,350       43
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       2,720,070                 1,852,654
 Other Exception Values:                                0                         0
Exception Totals(3):                            2,720,070                 1,852,654
Test Values(4):                                34,634,242                34,501,004

Margin of Error Percent:                                   10.6226474
Margin of Error Value:                                      3,664,920
Confidence Interval Values:
  State Lower Limit:                                       30,836,084  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        34,634,242  (Within Confidence Interval Limits)
  State Upper Limit:                                       38,165,924  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        30,205,659  (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.