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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
                                                        152-909-152 Shallowater

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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         19,530,915     .9355      20,877,515        9
  2      A  - Single-family Residences         19,481,657    1.0118      19,254,454        8
  3      A  - Single-family Residences         19,498,076     .9869      19,756,891        9
  4      A  - Single-family Residences         19,498,076     .9920      19,655,319        9
  5      D  - Rural Real                        8,251,896     .9573       8,619,969       10
  6      G  - Oil, Gas, Minerals                5,649,180     .9311       6,067,211       12

Random Totals:                                 91,909,800                94,231,359       57
 Cat J Exception Values:                        4,816,400                 4,820,469
 Cat D1 Exception Values:                       6,909,835                 4,964,155
 Other Exception Values:                        3,660,710                 3,621,882
Exception Totals(3):                           15,386,945                13,406,506
Test Values(4):                               107,296,745               107,637,865

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                      5,381,893
Confidence Interval Values:
  State Lower Limit:                                      102,255,972  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       107,296,745  (Within Confidence Interval Limits)
  State Upper Limit:                                      113,019,758  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       105,574,134  (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.