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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     15:42                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        152-907-152 Frenship

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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        185,079,509     .9343     198,094,305       64
  2      A  - Single-family Residences        184,146,727     .9625     191,321,275       64
  3      A  - Single-family Residences        184,690,850     .9630     191,786,968       64
  4      A  - Single-family Residences        184,535,386     .9824     187,841,395       64
  5      B  - Multi-family Residences          23,339,280     .7878      29,625,895        7
  6      B  - Multi-family Residences          24,157,535    1.0130      23,847,517        4
  7      B  - Multi-family Residences          31,093,668    1.0021      31,028,508        3
  8      F  - Commercial Real                  37,720,174    1.0561      35,716,480        7
  9      F  - Commercial Real                  38,132,937    1.0002      38,125,312        7
 10      F  - Commercial Real                  38,609,202    1.0184      37,911,628        6
 11      F  - Commercial Real                  36,402,508    1.0329      35,243,013        4
 12      L  - Commercial Personal              17,413,369    1.0153      17,150,959        7
 13      L  - Commercial Personal              17,332,988    1.0075      17,203,958        7
 14      L  - Commercial Personal              17,311,066    1.0054      17,218,088        6
 15      L  - Commercial Personal              17,376,832     .9941      17,479,964        3

Random Totals:                              1,037,342,031             1,069,595,265      317
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       9,699,101                 6,856,845
 Other Exception Values:                       11,444,862                11,331,293
Exception Totals(3):                           21,143,963                18,188,138
Test Values(4):                             1,058,485,994             1,087,783,403

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     54,389,170
Confidence Interval Values:
  State Lower Limit:                                    1,033,394,233  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,058,485,994  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,142,172,573  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     1,170,402,528  (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.