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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     14:48                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        111-901-111 Granbury

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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        379,465,490     .9787     387,724,011       56
  2      A  - Single-family Residences        379,465,490     .9860     384,853,438       60
  3      A  - Single-family Residences        379,625,265     .9896     383,614,860       58
  4      A  - Single-family Residences        379,305,715     .9837     385,590,846       56
  5      D  - Rural Real                      208,364,930     .9503     219,262,265       22
  6      F  - Commercial Real                  53,793,204     .9187      58,553,613       20
  7      F  - Commercial Real                  54,246,391     .9283      58,436,272       10
  8      F  - Commercial Real                  54,269,050     .8980      60,433,241       10

Random Totals:                              1,888,535,535             1,938,468,546      292
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                      10,522,400                 7,973,082
 Other Exception Values:                       47,473,120                50,401,595
Exception Totals(3):                           57,995,520                58,374,677
Test Values(4):                             1,946,531,055             1,996,843,223

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     99,842,161
Confidence Interval Values:
  State Lower Limit:                                    1,897,001,062  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,946,531,055  (Within Confidence Interval Limits)
  State Upper Limit:                                    2,096,685,384  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     2,183,792,540  (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.