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 1/22/04                               COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                            Page:     1
15:50:34                                             2003 PROPERTY VALUE STUDY                                              LS0010P
                                                         INDEX CALCULATIONS
                                              APPRAISAL DISTRICT:  160  McCulloch

-----------------------------------------------------------------------------------------------------------------------------------
                                                 <--------- REPORTED VALUE ------------->          INDEX          PTD ADJUSTED
        SCHOOL DISTRICT                          ACRES          PRODUCTIVITY       $/ACRE          FACTOR         $/ACRE
-----------------------------------------------------------------------------------------------------------------------------------

IRRIGATED CROPLAND  -  PTD VALUE:        191.00

        160-901    Brady                                813             155,740        191.56          .9968         190.39
        160-904    Rochelle                              49               9,640        196.73         1.0237         195.53
        160-905    Lohn                                 151              29,300        194.04         1.0097         192.85
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                   1,013             194,680        192.18

DRY CROPLAND        -  PTD VALUE:         91.00

        160-901    Brady                             62,658           5,349,790         85.38          .9979          90.81
        160-904    Rochelle                          20,167           1,725,700         85.57         1.0001          91.01
        160-905    Lohn                              31,914           2,741,250         85.89         1.0039          91.35
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 114,739           9,816,740         85.56

IMPROVED PASTURE    -  PTD VALUE:         65.30

        160-901    Brady                             17,372           1,099,990         63.32         1.0013          65.38
        160-904    Rochelle                          10,349             652,820         63.08          .9975          65.14
        160-905    Lohn                               5,727             362,500         63.30         1.0009          65.36
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                  33,448           2,115,310         63.24

NATIVE PASTURE      -  PTD VALUE:         50.80

        160-901    Brady                            338,112          16,850,160         49.84          .9978          50.69
        160-904    Rochelle                         169,559           8,481,030         50.02         1.0014          50.87
        160-905    Lohn                              70,846           3,566,070         50.34         1.0078          51.20
                                                  ---------      --------------     ---------
      ** CAD TOTALS                                 578,517          28,897,260         49.95

SCHOOL DISTRICT ACREAGES AND PRODUCTIVITY VALUE TOTALS INCLUDE LAND RECLASSIFIED TO WILDLIFE AND TIMBER IN TRANSITION.
INDEX CALCULATIONS BASED ON ISD VALUES PER ACRE DIVIDED BY CAD AVERAGE VALUE PER ACRE.

                                                        ** End of Report **