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Date:   1/27/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:      9:04                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        116-903-116 Commerce

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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         25,918,598     .6946      37,314,423        8
  2      A  - Single-family Residences         26,049,611     .9024      28,867,033        7
  3      A  - Single-family Residences         25,842,175     .9330      27,697,937        7
  4      A  - Single-family Residences         25,929,516     .8188      31,667,704        6
  5      B  - Multi-family Residences           4,158,457     .9036       4,602,099        8
  6      B  - Multi-family Residences           4,397,029     .9864       4,457,653        7
  7      B  - Multi-family Residences           3,940,783     .9872       3,991,879        4
  8      D  - Rural Real                       40,726,930     .9862      41,296,826       23
  9      F  - Commercial Real                   9,348,321    1.0254       9,116,755        7
 10      F  - Commercial Real                   9,607,669     .9272      10,362,024        7
 11      F  - Commercial Real                  10,004,550     .9789      10,220,196        5
 12      L  - Commercial Personal               4,030,870     .9985       4,036,925        7
 13      L  - Commercial Personal               3,962,396     .9444       4,195,676        8
 14      L  - Commercial Personal               4,010,328    1.0164       3,945,620        4

Random Totals:                                197,927,233               221,772,750      108
 Cat J Exception Values:                       14,656,493                15,474,301
 Cat D1 Exception Values:                       5,732,030                 5,573,297
 Other Exception Values:                       20,048,806                21,177,220
Exception Totals(3):                           40,437,329                42,224,818
Test Values(4):                               238,364,562               263,997,568

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     13,199,878
Confidence Interval Values:
  Local Test Value:                                       238,364,562  (Outside of ConfidenceInterval Limits)
  State Lower Limit:                                      250,797,690  (State Test Value Minus Margin of Error Value)
  State Upper Limit:                                      277,197,446  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       330,909,835  (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.