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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     15:49                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        158-901-158 Bay City

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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         74,175,817     .9874      75,122,359       48
  2      A  - Single-family Residences         74,207,049     .9857      75,283,605       58
  3      A  - Single-family Residences         74,175,817    1.0000      74,175,817       60
  4      A  - Single-family Residences         74,144,585     .9731      76,194,209       48
  5      F  - Commercial Real                  19,417,152    1.0785      18,003,850        7
  6      F  - Commercial Real                  19,588,840    1.0535      18,594,058        7
  7      F  - Commercial Real                  19,302,693     .9297      20,762,281        8
  8      F  - Commercial Real                  19,376,274     .8133      23,824,264        8
  9      G  - Oil, Gas, Minerals               36,500,620     .9913      36,820,962       12
 10      L  - Commercial Personal              11,309,806    1.1674       9,688,030        8
 11      L  - Commercial Personal              11,499,568     .9714      11,838,139        8
 12      L  - Commercial Personal              11,570,729    1.1322      10,219,686        7
 13      L  - Commercial Personal              10,617,175    1.0152      10,458,210        2

Random Totals:                                455,886,125               460,985,470      281
 Cat J Exception Values:                       37,092,056                37,445,811
 Cat D1 Exception Values:                      13,050,878                12,625,779
 Other Exception Values:                        9,828,500                 9,259,981
Exception Totals(3):                           59,971,434                59,331,571
Test Values(4):                               515,857,559               520,317,041

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     26,015,852
Confidence Interval Values:
  State Lower Limit:                                      494,301,189  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                       515,857,559  (Within Confidence Interval Limits)
  State Upper Limit:                                      546,332,893  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                       782,995,201  (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.