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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     15:21                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        138-903-138 Munday

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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          3,486,641     .9537       3,655,910       21
  2      A  - Single-family Residences          3,476,395     .9662       3,598,008       23
  3      A  - Single-family Residences          3,473,467     .9669       3,592,375       16
  4      A  - Single-family Residences          3,469,076     .9999       3,469,423       15
  5      D  - Rural Real                        4,033,595     .7774       5,188,571       23
  6      L  - Commercial Personal                 892,183    1.0353         861,763        9
  7      L  - Commercial Personal                 903,419    1.0168         888,492        6
  8      L  - Commercial Personal                 878,699     .9896         887,934        6

Random Totals:                                 20,613,475                22,142,476      119
 Cat J Exception Values:                        2,994,900                 3,172,738
 Cat D1 Exception Values:                      17,553,960                16,138,822
 Other Exception Values:                          721,750                   719,901
Exception Totals(3):                           21,270,610                20,031,461
Test Values(4):                                41,884,085                42,173,937

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      2,108,697
Confidence Interval Values:
  State Lower Limit:                                       40,065,240  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        41,884,085  (Within Confidence Interval Limits)
  State Upper Limit:                                       44,282,634  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        41,502,116  (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.