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 1/22/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
14:52:40                                             2003 PROPERTY VALUE STUDY                                              LS0010P
                                                         INDEX CALCULATIONS
                                              APPRAISAL DISTRICT:  115  Hudspeth

-----------------------------------------------------------------------------------------------------------------------------------
                                                 <--------- REPORTED VALUE ------------->          INDEX          PTD ADJUSTED
        SCHOOL DISTRICT                          ACRES          PRODUCTIVITY       $/ACRE          FACTOR         $/ACRE
-----------------------------------------------------------------------------------------------------------------------------------

IRRIGATED CROPLAND  -  PTD VALUE:        331.60

        115-901    Ft Hancock                        17,017           8,508,494        500.00         1.4905         494.25
        115-902    Sierra Blanca                          0                   0           .00          .0000            .00
        115-903    Dell City                         32,770           8,192,626        250.00          .7453         247.14
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  49,787          16,701,120        335.45

DRY CROPLAND        -  PTD VALUE:           .00

        115-901    Ft Hancock                             0                   0           .00          .0000            .00
        115-902    Sierra Blanca                          0                   0           .00          .0000            .00
        115-903    Dell City                              0                   0           .00          .0000            .00
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                       0                   0           .00

IMPROVED PASTURE    -  PTD VALUE:           .00

        115-901    Ft Hancock                             0                   0           .00          .0000            .00
        115-902    Sierra Blanca                          0                   0           .00          .0000            .00
        115-903    Dell City                              0                   0           .00          .0000            .00
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                       0                   0           .00

NATIVE PASTURE      -  PTD VALUE:         13.50

        115-901    Ft Hancock                       453,437           5,342,551         11.78         1.0709          14.46
        115-902    Sierra Blanca                    421,714           4,497,607         10.67          .9700          13.10
        115-903    Dell City                        225,901           2,266,773         10.03          .9118          12.31
                                                  ---------      --------------     ---------
      ** CAD TOTALS                               1,101,052          12,106,931         11.00

SCHOOL DISTRICT ACREAGES AND PRODUCTIVITY VALUE TOTALS INCLUDE LAND RECLASSIFIED TO WILDLIFE AND TIMBER IN TRANSITION.
INDEX CALCULATIONS BASED ON ISD VALUES PER ACRE DIVIDED BY CAD AVERAGE VALUE PER ACRE.

                                                        ** End of Report **