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Date:   1/22/2004                        COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         Page:      1
Time:     17:06                                      2003 Property Value Study                                          Rpt: VAL7000
                                                     Confidence Interval Detail
                                                        196-903-235 Refugio

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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      G  - Oil, Gas, Minerals                3,149,319     .9715       3,241,708       18

Random Totals:                                  3,149,319                 3,241,708       18
 Cat J Exception Values:                        2,810,940                 2,825,135
 Cat D1 Exception Values:                       2,809,500                 2,726,121
 Other Exception Values:                        2,380,851                 2,381,242
Exception Totals(3):                            8,001,291                 7,932,498
Test Values(4):                                11,150,610                11,174,206

Margin of Error Percent:                                    5.0000000
Margin of Error Value:                                        558,710
Confidence Interval Values:
  State Lower Limit:                                       10,615,496  (State Test Value Minus Margin of Error Value)
  Local Test Value:                                        11,150,610  (Within Confidence Interval Limits)
  State Upper Limit:                                       11,732,916  (State Test Value Plus Margin of Error Value)
Value Assigned (5):                                        14,657,800  (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.