School and Appraisal Districts' Property Value Study 2003 Preliminary Report



Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     15:55                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        161-903-161 Midway

------------------------------------------------------------------------------------------------------------------------------------
                                                              (1)                         (2)
  (1)                  (1)                        (1)       Stratum         (1)         Sample
Stratum              Category                 Local Value    Ratio      State Value      Size
------------------------------------------------------------------------------------------------------------------------------------
  1      A  - Single-family Residences        266,850,464     .9129     292,310,728       47
  2      A  - Single-family Residences        266,850,464     .9590     278,259,087       49
  3      A  - Single-family Residences        266,850,464     .9686     275,501,202       51
  4      A  - Single-family Residences        266,850,464     .9759     273,440,377       51
  5      B  - Multi-family Residences          26,359,051     .8162      32,294,843        7
  6      B  - Multi-family Residences          26,403,464     .9094      29,033,939        7
  7      B  - Multi-family Residences          29,479,056    1.0268      28,709,638        6
  8      F  - Commercial Real                  45,915,182     .8973      51,170,380        8
  9      F  - Commercial Real                  45,684,162    1.0603      43,086,072        7
 10      F  - Commercial Real                  47,185,791    1.0229      46,129,427        6
 11      F  - Commercial Real                  44,105,527    1.0213      43,185,672        5
 12      L  - Commercial Personal              72,609,213    1.0204      71,157,598       14
 13      L  - Commercial Personal              72,517,554    1.0469      69,268,845        2

Random Totals:                              1,477,660,856             1,533,547,808      260
 Cat J Exception Values:                                0                         0
 Cat D1 Exception Values:                       4,483,738                 5,262,746
 Other Exception Values:                       20,842,352                20,867,451
Exception Totals(3):                           25,326,090                26,130,197
Test Values(4):                             1,502,986,946             1,559,678,005

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                     77,983,900
Confidence Interval Values:
  State Lower Limit:                                    1,481,694,105  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                     1,502,986,946  (Within Confidence Interval Limits)
  State Upper Limit:                                    1,637,661,905  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                     2,109,007,074  (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.