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DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 001
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY A  - STRATUM   2
$     42,031 - $     80,860

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

A296 POR 32 A TREVINO PT-   207463                      S    03/2003        60,000          60,010           60,000     1.0002
DEL NORTE CONDOS #122 B56   209806                      S    05/2003        55,000          42,200           55,000     0.7673
L6 B3 LOMA ALTA             214323                      S    02/2004        78,000          65,850           78,000     0.8442
CONCORD HILLS , B3, L18,    214607                      S    12/2003        64,005          62,190           64,005     0.9716
L13 B1 GEORGE WASHINGTON    216218                      S    11/2003        57,600          71,910           57,600     1.2484
L4 B6 GEORGE WASHINGTON I   216562                      S    10/2003        55,000          49,170           55,000     0.8940
L65 B3 FLYNN I              217027                      S    02/2003        65,000          58,010           65,000     0.8925
L218 B4 FLYNN II            217200                      S    07/2003        72,000          66,100           72,000     0.9181
L251 B5 FLYNN II            217213                      S    02/2003        70,500          65,240           70,500     0.9254
L17 B2 EASTWOODS II         220202                      S    12/2003        82,500          79,430           82,500     0.9628
L3 B8 EASTWOODS III         220422                      S    12/2003        79,000          70,910           79,000     0.8976
L6 B7 WOODLANDS IV          220895                      S    01/2003        64,500          66,500           64,500     1.0310
L6 B2 SAN JOSE SD VII & 1   220960                      S    11/2003        61,000          75,680           61,000     1.2407
U 6 BLD C CHAMPIONS CONDO   222028                      S    02/2004        74,000          76,600           74,000     1.0351
L50 B202 CIMARRON           222785                      S    07/2003        80,000          66,890           80,000     0.8361
U 8D BLD D LAS BRISAS DEL   231509                      S    02/2003        69,000          69,220           69,000     1.0032
U #4 BLD "A" & 5% NORTH S   231661                      S    02/2003        63,500          63,200           63,500     0.9953
L32 B4 EL CENIZO U II       232472                      S    03/2003        30,000          45,180           30,000     1.5060
L3 B17 QUAIL CREEK V        234277                      S    06/2003        75,773          70,890           75,773     0.9356
DEERFIELD, B5, L31, PH1     234816                      S    07/2003        71,872          73,150           71,872     1.0178
U 20C BLD C THE OASIS CON   235590                      S    10/2003        76,000          68,110           76,000     0.8962
U 36D BLD D THE OASIS CON   235606                      S    09/2003        72,000          68,110           72,000     0.9460
L15 B5 LOS PRESIDENTES II   237516                      S    07/2003        79,000          76,900           79,000     0.9734
L15 B2 RIVERHILL I          238921                      S    03/2003        70,000          73,420           70,000     1.0489
L83 B2 WOLF CREEK           240878                      S    03/2003        87,000          80,150           87,000     0.9213
INDIAN SUNSET, B13, L7, P   246355                      S    10/2003        82,400          76,870           82,400     0.9329
INDIAN SUNSET, B1, L20, P   246521                      S    01/2003        75,000          74,720           75,000     0.9963
LAS AMERICAS, B34, L25, U   246724                      S    09/2003        79,500          66,130           79,500     0.8318
ELEDEN XV, B1, L26 & 1 20   255138                      S    01/2003        62,500          51,840           62,500     0.8294
ELEDEN XV, B1, L44          255156                      S    08/2003        66,000          44,250           66,000     0.6705
INDIAN SUNSET U 5, B1, L2   256635                      S    02/2003        85,000          74,320           85,000     0.8744
INDIAN SUNSET U 5, B2, L4   256665                      S    01/2003        71,000          73,420           71,000     1.0341
U 34 BLD E & 3.31%, L1-C    257648                      S    09/2003        73,500          67,700           73,500     0.9211
CONCORD HILLS , B13, L6,    262979                      S    02/2003        75,000          67,770           75,000     0.9036
CONCORD HILLS , B13, L15,   262988                      S    01/2003        68,000          65,600           68,000     0.9647
DEERFIELD, B12, L16, PH3    263084                      S    01/2003        84,000          79,330           84,000     0.9444
FIESTA, B6, L1, PHIII (PU   263847                      S    08/2003        80,000          72,440           80,000     0.9055
FIESTA, B9, L16, PHIII (P   263890                      S    03/2003        69,990          69,450           69,990     0.9923
SAN JOSE SD, B4, L20, PHV   274262                      S    04/2003        72,000          51,500           72,000     0.7153
CONCORD HILLS , B17, L27,   274619                      S    09/2003        76,370          74,140           76,370     0.9708
CONCORD HILLS , B17, L31,   274623                      S    11/2003        85,100          77,510           85,100     0.9108
CUATRO VIENTOS, B2, L9, P   275164                      S    11/2003        81,692          79,250           81,692     0.9701
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 002
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY A  - STRATUM   2
$     42,031 - $     80,860

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
CUATRO VIENTOS, B7, L15,    275207                      S    08/2003        76,099          78,890           76,099     1.0367
CUATRO VIENTOS NORTE PHI,   275220                      S    10/2003        82,000          70,370           82,000     0.8582
CUATRO VIENTOS NORTE PHI,   275224                      S    01/2003        85,000          75,840           85,000     0.8922
CUATRO VIENTOS NORTE PHI,   275225                      S    05/2003        75,000          73,050           75,000     0.9740
CUATRO VIENTOS NORTE PHI,   275226                      S    12/2003        80,000          66,770           80,000     0.8346
CUATRO VIENTOS NORTE PHI,   275228                      S    12/2003        71,000          66,650           71,000     0.9387
CUATRO VIENTOS NORTE PHI,   275255                      S    06/2003        85,000          71,860           85,000     0.8454
RIVERHILL U V, B1, L6       275514                      S    07/2003        84,391          71,130           84,391     0.8429
U 68 BLD 15 VILLAS DE CAN   277104                      S    09/2003        73,950          69,290           73,950     0.9370
U 79 BLD 18 VILLAS DE CAN   277115                      S    07/2003        72,900          69,290           72,900     0.9505
U 82 BLD 18 VILLAS DE CAN   277118                      S    10/2003        73,950          69,290           73,950     0.9370
INDIAN SUNSET, B11, L12,    291142                      S    05/2003        82,600          76,360           82,600     0.9245
INDIAN SUNSET, B4, L14, P   291308                      S    11/2003        81,500          78,000           81,500     0.9571
INDIAN SUNSET, B4, L19, P   291313                      S    12/2003        76,990          77,790           76,990     1.0104
FIESTA, B2, L18, PHIV (PU   291413                      S    08/2003        82,000          69,960           82,000     0.8532
FIESTA, B4, L12, PHIV (PU   291429                      S    06/2003        79,500          70,740           79,500     0.8898
FIESTA, B7, L25, PHIV (PU   291444                      S    08/2003        80,000          71,190           80,000     0.8899
FIESTA, B8, L14, PHIV (PU   291461                      S    08/2003        82,199          79,580           82,199     0.9681
FIESTA SD, B11, L28, PHV    292445                      S    01/2004        78,990          80,200           78,990     1.0153
                                                                                       ___________      ___________     ______
                                                           STRATUM 2 TOTALS              4,217,510        4,502,371     0.9367

____________________________________________________________________________________________________________________________________


CATEGORY A  - STRATUM   3
$     80,861 - $    107,950

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

L7 B1 HILLSIDE TERRACE SD   214854                      S    06/2003        84,557          90,570           84,557     1.0711
L15 B3 GEORGE WASHINGTON    216276                      S    02/2003        90,000          84,740           90,000     0.9416
L36 B2 INDEPENDENCE HILL    216633                      S    09/2003        84,000          84,070           84,000     1.0008
L252 B10 DELLWOOD SEC IV    219737                      S    10/2003        97,000          82,430           97,000     0.8498
L12 B7 EASTWOODS III        220409                      S    01/2003        83,565          98,380           83,565     1.1773
L29 THE QUADRANGLE          221000                      S    04/2003       110,000          84,180          110,000     0.7653
L37 B1 NORTH POUI HILLS     225310                      S    02/2003        87,900          90,380           87,900     1.0282
L337 B18 RIVER OAKS IV (L   233548                      S    07/2003        93,000          92,750           93,000     0.9973
L385 B22 LOWRY FARM V (RI   233575                      S    03/2003        75,000          82,680           75,000     1.1024
L34 B6 RANCHO VIEJO I       233746                      S    11/2003       110,000          95,770          110,000     0.8706
L71 B7 RANCHO VIEJO II      233783                      S    08/2003       138,000         107,340          138,000     0.7778
L150 B10 RANCHO VIEJO III   233862                      S    01/2003        93,000         103,450           93,000     1.1124
L237 B14 RANCHO VIEJO IV    233949                      S    07/2003        93,000          88,500           93,000     0.9516
L4 B14 QUAIL CREEK III      234206                      S    07/2003        93,000          95,710           93,000     1.0291
L8 B20 QUAIL CREEK V PUD    234342                      S    01/2003        84,500          87,160           84,500     1.0315
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 003
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY A  - STRATUM   3
$     80,861 - $    107,950

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
L26 B2 SHILOH I             235334                      S    01/2003        89,000          92,470           89,000     1.0390
SHILOH HTS CONDOS U #2-E    235555                      S    04/2003       107,000         105,740          107,000     0.9882
U #7-D BLD "D" ,L3 B1 SHI   235639                      S    11/2003        88,000          82,330           88,000     0.9356
L15 B1 OAKRIDGE             236178                      S    06/2003       142,000         101,290          142,000     0.7133
L10 B19A LOS PRESIDENTES    237850                      S    04/2003        78,933          93,540           78,933     1.1851
L5 B27 LOS PRESIDENTES VI   237964                      S    04/2003        78,000          82,900           78,000     1.0628
L10 B4 RIVERHILL I          238965                      S    07/2003        93,500          89,410           93,500     0.9563
L6 B1 LAS AMERICAS I        239755                      S    10/2003        82,100          84,090           82,100     1.0242
L3 B6 INDIAN SUNSET II      240616                      S    10/2003        88,800          85,390           88,800     0.9616
L37 B3 VILLAGE HTS I        241211                      S    11/2003       110,000          99,470          110,000     0.9043
CIELITO LINDO, B6, L5, PH   245959                      S    05/2003        92,720          89,320           92,720     0.9633
INDIAN SUNSET, B11, L21,    246314                      S    04/2003        76,475          85,750           76,475     1.1213
INDIAN SUNSET, B11, L26,    246319                      S    02/2003        86,782          90,830           86,782     1.0466
PECAN AC PHIV, B3, L5       246655                      S    02/2003        92,000          85,300           92,000     0.9272
PECAN AC PHIV, B4, L21      246685                      S    06/2003        78,500          93,470           78,500     1.1907
LAS AMERICAS, B34, L16, U   246715                      S    01/2003        75,000          90,060           75,000     1.2008
CREEKSIDE, B1, L21          262902                      S    04/2003        91,490          82,220           91,490     0.8987
CREEKSIDE, B1, L22          262903                      S    04/2003        89,218          94,900           89,218     1.0637
CONCORD HILLS , B12, L11,   262957                      S    06/2003        84,821          84,060           84,821     0.9910
DEERFIELD, B12, L12, PH3    263080                      S    02/2003        97,590          84,510           97,590     0.8660
DEERFIELD, B12, L42, PH3    263110                      S    01/2003        85,490          80,890           85,490     0.9462
FIESTA, B10, L7, PHIII (P   263898                      S    02/2003        79,990          86,690           79,990     1.0838
FIESTA, B10, L15, PHIII (   263906                      S    03/2003        88,569          90,740           88,569     1.0245
CONCORD HILLS , B17, L16,   274570                      S    05/2003       113,353          92,830          113,353     0.8189
CONCORD HILLS , B18, L7,    274584                      S    05/2003        98,619          85,810           98,619     0.8701
CONCORD HILLS , B17, L30,   274622                      S    10/2003        83,000          83,500           83,000     1.0060
CONCORD HILLS , B17, L33,   274625                      S    10/2003       115,000         101,320          115,000     0.8810
PONDEROSA HILLS, B10, L7,   274679                      S    06/2003       111,500         102,920          111,500     0.9230
PONDEROSA HILLS, B10, L9,   274681                      S    05/2003       108,990         100,650          108,990     0.9235
PONDEROSA HILLS, B11, L2,   274684                      S    05/2003       104,000         100,650          104,000     0.9678
CUATRO VIENTOS NORTE PHI,   275260                      S    11/2003        87,000          82,130           87,000     0.9440
ELEDEN B P NEWMAN PARK, B   275498                      S    01/2004        99,000          88,060           99,000     0.8895
U 73 BLD 16 VILLAS DE CAN   277109                      S    06/2003        86,000          85,230           86,000     0.9910
FIESTA, B4, L3, PHIV (PUD   291420                      S    07/2003        84,000          82,510           84,000     0.9823
FIESTA, B7, L24, PHIV (PU   291443                      S    09/2003        82,284          86,690           82,284     1.0535
FIESTA, B8, L4, PHIV (PUD   291451                      S    10/2003        95,000          86,690           95,000     0.9125
FIESTA, B8, L13, PHIV (PU   291460                      S    09/2003        90,990          86,690           90,990     0.9527
SAN ISIDRO MONARCH, B1, L   291517                      S    12/2003       104,000         100,270          104,000     0.9641
LA VILLITA DEL LAGO CONDO   291651                      S    02/2004        89,900          84,970           89,900     0.9452
LA VILLITA DEL LAGO CONDO   291661                      S    12/2003        90,300          84,970           90,300     0.9410
LA VILLITA DEL LAGO CONDO   291666                      S    07/2003        89,500          84,970           89,500     0.9494
U 45 BLD K PH3 THE RANCHW   293062                      S    07/2003        83,500          82,960           83,500     0.9935
U 72 BLD Q PH4 THE RANCHW   293337                      S    01/2004        86,500          82,960           86,500     0.9591
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 004
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY A  - STRATUM   3
$     80,861 - $    107,950

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
U 73 BLD Q PH4 THE RANCHW   293338                      S    02/2004        84,500          82,960           84,500     0.9818
U 83 BLD S PH4 THE RANCHW   293348                      S    02/2004        84,000          82,960           84,000     0.9876
U 86 BLD T PH4 THE RANCHW   293351                      S    12/2003        86,000          82,960           86,000     0.9647
                                                                                       ___________      ___________     ______
                                                           STRATUM 3 TOTALS              5,459,140        5,649,436     0.9663
____________________________________________________________________________________________________________________________________

CATEGORY A  - STRATUM   4
$    107,951 - $    166,900

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

L1043 B48 DEL MAR HIGHLAN   211411                      S    05/2003       138,500         129,860          138,500     0.9376
L20 B101 PECAN AC IN P 33   213753                      S    09/2003       120,000         145,290          120,000     1.2108
L451 B23 HILLSIDE TERRACE   215297                      S    06/2003       115,000         116,310          115,000     1.0114
L468 B24 HILLSIDE TERRACE   215314                      S    04/2003        80,000         108,080           80,000     1.3510
L10 B5 CHAPARRAL VILLAGE    217782                      S    04/2003       122,500         112,160          122,500     0.9156
U9 BLDA, B3 G & M APTS TO   222336                      S    06/2003       100,000         130,410          100,000     1.3041
L13 GALE PLACE              222831                      S    01/2003       127,000         113,870          127,000     0.8966
L25 B8 SANTA RITA IX        231324                      S    09/2003       106,000         113,070          106,000     1.0667
L8 B4 LAS BRISAS DEL MAR    231567                      S    07/2003       134,500         116,250          134,500     0.8643
L10 B10 HIGHLAND PARK II    235975                      S    06/2003       127,000         122,550          127,000     0.9650
L138 B5 OAKRIDGE            236301                      S    05/2003       204,500         157,660          204,500     0.7710
L4 B6 CROSS COUNTRY II      236475                      S    08/2003       120,500         109,540          120,500     0.9090
L18 B6 CROSS COUNTRY III    236489                      S    08/2003       142,000         143,750          142,000     1.0123
L5 B2 QUAIL HOLLOW I        236616                      S    04/2003       179,000         158,890          179,000     0.8877
L11 B22A LOS PRESIDENTES    237869                      S    03/2003       130,000         142,240          130,000     1.0942
L19 B1 MEADOWLANDS I        239429                      S    11/2003       140,000         134,770          140,000     0.9626
L9 B2 CINNAMON TEAL         240412                      S    06/2003       113,387         109,820          113,387     0.9685
L16 B1 MOCKINGBIRD HTS I    240458                      S    01/2003       130,450         125,620          130,450     0.9630
L11 B2 MOCKINGBIRD HTS I    240472                      S    01/2004       131,000         125,460          131,000     0.9577
VILLAGE HTS, B5, L37, U I   241318                      S    02/2003       112,000         132,100          112,000     1.1795
VILLAGE HTS, B8, L31, U I   241406                      S    12/2003       113,000         111,500          113,000     0.9867
L9 B6 TIARA DE SAN ISIDRO   241952                      S    10/2003       121,000         111,080          121,000     0.9180
DOMINION DEL MAR, B1, L4,   245710                      S    12/2003       142,000         135,770          142,000     0.9561
DOMINION DEL MAR, B3, L2,   245736                      S    10/2003       138,000         118,340          138,000     0.8575
DOMINION DEL MAR, B8, L2,   245864                      S    02/2003       121,000         130,160          121,000     1.0757
DOMINION DEL MAR, B12, L5   245904                      S    11/2003       136,500         127,050          136,500     0.9308
TIARA DE SAN ISIDRO, B3,    247039                      S    02/2003       130,000         123,540          130,000     0.9503
LAKESIDE SD, B4, L1, PH3    247536                      S    10/2003       134,000         109,760          134,000     0.8191
VILLAGE HTS U IV, B10, L1   255392                      S    01/2003       161,000         134,990          161,000     0.8384
TIARA DE SAN ISIDRO, B3,    255577                      S    10/2003       145,000         124,620          145,000     0.8594
CIELITO LINDO, B3, L9, U    256502                      S    05/2003       104,500         109,210          104,500     1.0451
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 005
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY A  - STRATUM   4
$    107,951 - $    166,900

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
DOMINION DEL MAR, B2, L26   263232                      S    08/2003       139,000         119,640          139,000     0.8607
DOMINION DEL MAR, B2, L56   263262                      S    12/2003       132,870         120,790          132,870     0.9091
DOMINION DEL MAR, B13, L2   263294                      S    05/2003       127,700         119,470          127,700     0.9356
DOMINION DEL MAR, B14, L2   263308                      S    02/2003       126,900         126,600          126,900     0.9976
DOMINION DEL MAR, B14, L5   263311                      S    08/2003       149,000         129,620          149,000     0.8699
DOMINION DEL MAR, B16, L3   263331                      S    04/2003       126,100         125,600          126,100     0.9960
LAKESIDE, B3, L2, PH8       263387                      S    05/2003       156,000         163,510          156,000     1.0481
PONDEROSA HILLS, B1, L8,    263695                      S    02/2003       143,000         116,510          143,000     0.8148
SONTERRA DE SAN ISIDRO, B   263788                      S    01/2004       164,900         140,060          164,900     0.8494
TIARA DE SAN ISIDRO, B12,   264365                      S    08/2003       146,500         146,510          146,500     1.0001
WINFIELD PH5, B5, L18       264602                      S    01/2003       170,000         161,200          170,000     0.9482
SAN ISIDRO RUIDOSO, B1, L   274015                      S    11/2003       150,000         147,000          150,000     0.9800
SAN ISIDRO RUIDOSO, B3, L   274023                      S    09/2003       135,231         154,180          135,231     1.1401
SAN ISIDRO RUIDOSO, B3, L   274032                      S    12/2003       141,920         135,560          141,920     0.9552
SAN ISIDRO RUIDOSO, B5, L   274051                      S    01/2004       137,000         139,190          137,000     1.0160
SAN ISIDRO RUIDOSO, B6, L   274072                      S    04/2003       162,000         154,520          162,000     0.9538
SAN ISIDRO TAOS, B4, L17,   274124                      S    06/2003       140,000         138,830          140,000     0.9916
PALM VIEW, B4, L8           274219                      S    04/2003       128,500         139,330          128,500     1.0843
PALM VIEW, B4, L9           274220                      S    01/2003       142,500         152,610          142,500     1.0709
PALM VIEW, B5, L8           274230                      S    05/2003       175,000         164,820          175,000     0.9418
PONDEROSA HILLS, B13, L4,   274717                      S    06/2003       126,990         121,560          126,990     0.9572
SAN ISIDRO - AMAZONIA, B1   275278                      S    06/2003       121,115         138,730          121,115     1.1454
SAN ISIDRO - AMAZONIA, B4   275292                      S    09/2003       137,500         143,360          137,500     1.0426
SAN ISIDRO - AMAZONIA, B6   275314                      S    05/2003       141,795         132,060          141,795     0.9313
SAN ISIDRO - AMAZONIA, B7   275319                      S    05/2003       123,322         111,990          123,322     0.9081
SAN ISIDRO - AMAZONIA, B1   275325                      S    05/2003       125,905         127,620          125,905     1.0136
SAN ISIDRO - AMAZONIA, B1   275329                      S    11/2003       135,900         133,540          135,900     0.9826
SAN ISIDRO - AMAZONIA, B4   275347                      S    04/2003       114,500         119,710          114,500     1.0455
U60; U61 BLD N PH3 THE RA   293077                      S    08/2003       167,000         165,920          167,000     0.9935
                                                                                       ___________      ___________     ______
                                                           STRATUM 4 TOTALS              7,873,760        8,107,485     0.9712

____________________________________________________________________________________________________________________________________

DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 006
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY A  - STRATUM   5
$    166,901 - $999,999,999

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

L1271 B56 DEL MAR C-4B      211354                      S    07/2003       325,000         272,950          325,000     0.8398
L45 B3 REGENCY PARK; E1/2   217396                      S    10/2003       611,440         435,270          611,440     0.7119
L9 B5 J S J SD II           217686                      S    09/2003       240,000         237,170          240,000     0.9882
L16 B5 J S J SD II          217693                      S    09/2003       249,000         191,090          249,000     0.7674
L1293 B67 DEL MAR 5-C       221778                      S    06/2003       450,000         460,730          450,000     1.0238
L1398 B85 DEL MAR 5-C       221883                      S    02/2003       268,000         197,360          268,000     0.7364
REPLAT L9 B97 DEL MAR 5-C   222067                      S    10/2003       270,000         243,320          270,000     0.9012
L8 B2 THE PLANTATION U I    231393                      S    06/2003       210,000         214,610          210,000     1.0220
L11 B5 THE PLANTATION U I   231413                      S    07/2003       300,000         257,880          300,000     0.8596
L9 B4 GLENEAGLES II         232226                      S    05/2003       210,000         184,940          210,000     0.8807
L18 B17 HUNTERS HILL        236814                      S    02/2003       175,000         192,160          175,000     1.0981
L20 B17 LOS PRESIDENTES V   237828                      S    08/2003       151,000         192,580          151,000     1.2754
L11 B3 WINFIELD I           240920                      S    10/2003       326,072         300,240          326,072     0.9208
L7 B9 WINFIELD PUD          241007                      S    05/2003       550,000         513,540          550,000     0.9337
L1 B1 SONTERRA DE SAN ISI   242017                      S    06/2003       155,600         191,210          155,600     1.2289
L10 B3 SONTERRA DE SAN IS   242052                      S    09/2003       176,000         181,980          176,000     1.0340
DOMINION DEL MAR, B4, L10   245751                      S    08/2003       189,000         168,310          189,000     0.8905
HIGHLAND PARK, B15, L11,    246978                      S    02/2003       178,000         171,530          178,000     0.9637
LAKESIDE SD, B15, L4, PH1   247451                      S    10/2003       183,990         214,410          183,990     1.1653
LAKESIDE SD, B4, L4, PH3    247550                      S    02/2003       172,200         169,370          172,200     0.9836
TURNBERRY, B4, L7           247905                      S    10/2003       221,500         294,630          221,500     1.3302
J S J EST, B12, L6, LEGAC   255952                      S    08/2003       335,000         277,180          335,000     0.8274
LAKESIDE SD, B8, L8, PH2    256213                      S    04/2003       203,000         197,990          203,000     0.9753
LAKESIDE SD, B8, L9, PH2    256214                      S    09/2003       185,469         181,890          185,469     0.9807
D & J ALEXANDER, B1, L16,   256591                      S    03/2003       230,000         182,870          230,000     0.7951
LAKESIDE, B1, L16, PH8      263360                      S    02/2003       179,600         186,710          179,600     1.0396
LAKESIDE, B2, L13, PH8      263383                      S    10/2003       177,000         188,340          177,000     1.0641
LAKESIDE, B4, L1, PH8       263414                      S    01/2003       167,600         173,280          167,600     1.0339
SAN ISIDRO RUIDOSO, B2, L   263652                      S    09/2003       179,900         179,910          179,900     1.0001
SAN ISIDRO RUIDOSO, B2, L   263656                      S    06/2003       169,000         179,910          169,000     1.0646
SAN ISIDRO RUIDOSO, B2, L   263670                      S    06/2003       178,990         181,970          178,990     1.0166
SAN ISIDRO RUIDOSO, B3, L   263684                      S    01/2003       168,000         167,390          168,000     0.9964
SAN ISIDRO RUIDOSO, B4, L   263686                      S    11/2003       200,000         174,670          200,000     0.8734
SONTERRA DE SAN ISIDRO, B   263785                      S    08/2003       185,400         175,170          185,400     0.9448
SONTERRA DE SAN ISIDRO, B   263814                      S    03/2003       238,000         266,600          238,000     1.1202
SONTERRA DE SAN ISIDRO, B   263823                      S    09/2003       285,000         231,420          285,000     0.8120
SONTERRA DE SAN ISIDRO, B   263838                      S    05/2003       175,000         169,440          175,000     0.9682
WINFIELD PH5, B1, L4        264530                      S    07/2003       172,000         170,420          172,000     0.9908
WINFIELD PH5, B1, L25       264551                      S    02/2003       187,000         180,750          187,000     0.9666
WINFIELD PH5, B1, L41       264567                      S    08/2003       180,000         182,580          180,000     1.0143
WINFIELD PH5, B5, L17       264601                      S    03/2003       239,000         192,740          239,000     0.8064
WINFIELD PH5, B6, L3        264608                      S    07/2003       178,264         168,780          178,264     0.9468
WINFIELD PH5, B6, L16       264621                      S    10/2003       189,500         183,300          189,500     0.9673
WINFIELD PH5, B6, L21       264626                      S    05/2003       237,500         212,760          237,500     0.8958
SAN ISIDRO RUIDOSO, B3, L   274031                      S    12/2003       165,300         171,110          165,300     1.0351
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 007
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY A  - STRATUM   5
$    166,901 - $999,999,999

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
SAN ISIDRO TAOS, B4, L12,   274119                      S    08/2003       172,656         168,640          172,656     0.9767
PONDEROSA HILLS, B11, L13   274695                      S    09/2003       192,603         175,010          192,603     0.9087
D & J ALEXANDER, B5, L13,   274763                      S    05/2003       239,000         209,920          239,000     0.8783
D & J ALEXANDER, B5, L16,   274766                      S    07/2003       220,000         240,140          220,000     1.0915
D & J ALEXANDER, B5, L23,   274773                      S    04/2003       250,000         197,240          250,000     0.7890
D & J ALEXANDER, B6, L5,    274779                      S    05/2003       220,000         232,340          220,000     1.0561
D & J ALEXANDER, B11, L4,   274796                      S    11/2003       250,000         266,810          250,000     1.0672
BENT TREE, B5, L12, PHIII   275078                      S    08/2003       215,000         213,260          215,000     0.9919
BENT TREE, B6, L20, PHIII   275086                      S    09/2003       200,000         230,350          200,000     1.1518
BENT TREE, B6, L27, PHIII   275093                      S    08/2003       270,000         249,950          270,000     0.9257
BENT TREE, B6, L31, PHIII   275097                      S    08/2003       212,000         179,410          212,000     0.8463
BENT TREE, B6, L36, PHIII   275102                      S    08/2003       213,500         196,970          213,500     0.9226
BENT TREE, B6, L47, PHIII   275113                      S    02/2004       199,200         209,680          199,200     1.0526
BENT TREE, B7, L18, PHIII   275137                      S    05/2003       350,000         336,480          350,000     0.9614
SAN ISIDRO - AMAZONIA, B7   275318                      S    04/2003       165,000         167,530          165,000     1.0153
LAKESIDE, B1, L6, PH9       291737                      S    12/2003       184,000         173,900          184,000     0.9451
                                                                                       ___________      ___________     ______
                                                           STRATUM 5 TOTALS             13,310,090       13,970,284     0.9527

____________________________________________________________________________________________________________________________________


CATEGORY A  - TOTALS
____________________________________________________________________________________________________________________________________

STRATUM  COMP     SAMPLE      STRATUM          SAMPLE          SAMPLE          STRATUM      STRATUM           STRATUM     CATEGORY
_______  ____     ______      _______          ______          ______          _______      _______           _______     ________
         CODE     PARCELS     PARCELS     LOCAL VALUE       PTD VALUE      LOCAL VALUE        RATIO         PTD VALUE        RATIO
         ____     _______     _______     ___________       _________      ___________        _____         _________        _____

   1      U            0        5,322               0               0      127,989,886                    127,989,886
   2      R           61        8,083       4,217,510       4,502,371      605,893,621       0.9367       646,838,498
   3      R           61        5,617       5,459,140       5,649,436      605,925,438       0.9663       627,057,268
   4      R           60        4,060       7,873,760       8,107,485      605,868,511       0.9712       623,834,958
   5      R           61        2,087      13,310,090      13,970,284      605,766,604       0.9527       635,841,927

TOTAL                243       25,169      30,860,500      32,229,576    2,551,444,060                  2,661,562,537       0.9586
____________________________________________________________________________________________________________________________________
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 008
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY C  - STRATUM   2
$      9,261 - $     18,150

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
L14 B1 VILLA DEL SOL        214013                      S    11/2003        23,000          16,470           23,000     0.7161
L6 B1 DOREL HILLS           214337                      S    05/2003        18,500          17,660           18,500     0.9546
L2 B3 CHEYENNE I            214789                      S    10/2003        20,000          17,090           20,000     0.8545
L11 B5 CHEYENNE I           214846                      S    07/2003        15,332          17,090           15,332     1.1147
L1 B2 ELEDEN SD VII         221143                      S    12/2003        19,379          15,790           19,379     0.8148
L7 B2 ELEDEN SD VII         221149                      S    11/2003        13,700          13,520           13,700     0.9869
L10 B26 RIO BRAVO           224540                      S    01/2003        10,000          10,530           10,000     1.0530
A2291 SUR 108 TR 73 J POI   225472                      S    06/2003        10,000          16,800           10,000     1.6800
L300 B7 RIVER SOUTH MH PA   227542                      S    11/2003        10,000          13,120           10,000     1.3120
L11 B1 COLONIA LOS ANGELE   227599                      S    01/2003        18,000          15,640           18,000     0.8689
L339 B10 COLONIA LOS ANGE   227974                      S    02/2003        12,000          15,640           12,000     1.3033
L10 B14 COLONIA LOS ANGEL   228146                      S    12/2003        13,000          15,640           13,000     1.2031
L22 B14 COLONIA LOS ANGEL   228158                      S    10/2003        12,000          15,640           12,000     1.3033
L2 B3 COLONIA LOS OBISPOS   228436                      S    03/2003        12,000          15,290           12,000     1.2742
L4 B7 COLONIA LOS OBISPOS   228503                      S    02/2003        15,000          16,250           15,000     1.0833
L10 B8 SANTA RITA IX        231309                      S    08/2003        17,000          18,150           17,000     1.0676
CIELITO LINDO, B1, L14, U   256461                      S    01/2003        14,500          16,730           14,500     1.1538
SANTA RITA U XI, B4, L6     256822                      S    07/2003        19,900          16,700           19,900     0.8392
SANTA RITA U XI, B5, L22    256849                      S    05/2003        16,000          17,170           16,000     1.0731
                                                                                       ___________      ___________     ______
                                                           STRATUM 2 TOTALS                300,920          289,311     1.0401

____________________________________________________________________________________________________________________________________


CATEGORY C  - STRATUM   3
$     18,151 - $     40,110

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

L3 B2 KEY SD (CALTON GARD   210325                      S    06/2003        19,990          20,310           19,990     1.0160
L1 B1 CHEYENNE I            214733                      S    03/2003        19,750          19,020           19,750     0.9630
L5 B3 GEORGE WASHINGTON U   216266                      S    01/2004        26,500          21,250           26,500     0.8019
L76 B3 DELLWOOD PARK        219560                      S    08/2003        23,000          20,340           23,000     0.8843
A1293, LAS LOMAS II TR 20   225674                      S    12/2003        38,000          25,110           38,000     0.6608
L6 B18-A SANTA RITA VI      230378                      S    08/2003        15,000          19,350           15,000     1.2900
L4 B7 RANCHO VIEJO VI       235023                      S    03/2003        26,000          21,270           26,000     0.8181
L1 B27 LOS PRESIDENTES VI   237960                      S    03/2003        24,500          25,360           24,500     1.0351
L28; L30: B1 RIVERHILL I    238892                      S    05/2003        34,500          36,080           34,500     1.0458
L11 B2 PUIO VALLE IND PAR   239015                      S    04/2003        47,000          39,200           47,000     0.8340
L23 B2 NUEVA ESPANA I       239330                      S    08/2003        32,000          22,510           32,000     0.7034
L27 B4 LAS AMERICAS I       239859                      S    11/2003        20,000          20,420           20,000     1.0210
CHEYENNE PHII, B3, L1       246088                      S    11/2003        23,000          19,400           23,000     0.8435
CHEYENNE PHII, B3, L4       246091                      S    01/2004        20,000          19,400           20,000     0.9700
DOMINION DEL MAR, B2, L46   263252                      S    06/2003        39,000          25,150           39,000     0.6449
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 009
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY C  - STRATUM   3
$     18,151 - $     40,110

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
LAKESIDE, B1, L15, PH9      291747                      S    10/2003        39,683          36,690           39,683     0.9246
LAKESIDE, B2, L8, PH9       291776                      S    10/2003        33,049          30,990           33,049     0.9377
                                                                                       ___________      ___________     ______
                                                           STRATUM 3 TOTALS                421,850          480,972     0.8771
____________________________________________________________________________________________________________________________________

CATEGORY C  - STRATUM   4
$     40,111 - $    173,080

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

L1 B1 J S J EST SD I        217600                      S    10/2003        75,500          71,660           75,500     0.9491
L51 B3 J S J EST SD I       217650                      S    09/2003        80,000          70,530           80,000     0.8816
L56 B3 J S J EST SD I       217655                      S    10/2003        86,000          70,530           86,000     0.8201
L25 B5 J S J SD II          217702                      S    02/2003        44,500          48,500           44,500     1.0899
L1; L2: B1 SIERRA VISTA U   221024                      S    10/2003        42,000          50,100           42,000     1.1929
B5 COLONIA LOS OBISPOS V    229095                      S    11/2003        57,000          54,700           57,000     0.9596
L7 B2 CARDINAL CREEK I      240295                      S    05/2003        72,000          46,800           72,000     0.6500
L8 B9 WINFIELD PUD          241008                      S    10/2003       130,050         114,440          130,050     0.8800
L12 B9 WINFIELD PUD         241012                      S    12/2003       160,000         141,850          160,000     0.8866
L4 B1 MUIRFIELD SD          241057                      S    05/2003       130,000         110,570          130,000     0.8505
TURNBERRY, B3, L3           247895                      S    08/2003        94,000          80,130           94,000     0.8524
J S J EST, B10, L2, LEGAC   255898                      S    11/2003        60,000          40,390           60,000     0.6732
J S J EST, B11, L5, LEGAC   255913                      S    10/2003        57,109          51,820           57,109     0.9074
J S J EST, B11, L18, LEGA   255926                      S    10/2003        52,500          41,040           52,500     0.7817
J S J EST, B11, L31, LEGA   255939                      S    02/2003        52,000          52,790           52,000     1.0152
J S J EST, B12, L3, LEGAC   255949                      S    02/2003        65,000          60,930           65,000     0.9374
J S J EST, B12, L19, LEGA   255965                      S    12/2003        70,000          61,500           70,000     0.8786
SAN ISIDRO TAOS, B1, L17,   263923                      S    10/2003        51,400          44,320           51,400     0.8623
LAKESIDE, B17, L3, PH7      264266                      S    06/2003        43,078          42,980           43,078     0.9977
LAKESIDE, B17, L5, PH7      264268                      S    05/2003        51,391          49,940           51,391     0.9718
LAKESIDE, B17, L18, PH7     264281                      S    05/2003        70,000          68,050           70,000     0.9721
LAKESIDE, B18, L13, PH7     264297                      S    04/2003        52,600          51,320           52,600     0.9757
BENT TREE, B4, L1A REPLAT   275075                      S    09/2003        60,813          64,400           60,813     1.0590
JACAMAN RANCH U 7, B1, L3   291164                      S    11/2003       186,438         164,980          186,438     0.8849
LAKESIDE, B3, L17, PH9      291795                      S    08/2003        43,101          40,190           43,101     0.9325
LAKESIDE SD, B18, L61, PH   293002                      S    01/2004        48,611          43,750           48,611     0.9000
                                                                                       ___________      ___________     ______
                                                           STRATUM 4 TOTALS              1,738,210        1,935,091     0.8983

____________________________________________________________________________________________________________________________________

DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 010
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY C  - STRATUM   5
$    173,081 - $999,999,999

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

KILLAM IND PARK, B11, L13   256117                      S    11/2003       247,000         282,440          247,000     1.1435
JACAMAN RANCH U 6, JACAMA   263974                      S    03/2003       261,360         174,240          261,360     0.6667
EMERALD HILLS, B1, L3       264135                      S    09/2003       270,000         270,000          270,000     1.0000
LAREDO DISTRIBUTION CENTE   264655                      S    07/2003       459,000         497,210          459,000     1.0832
JACAMAN RANCH U 7, B2, L2   291170                      S    03/2003       457,590         417,960          457,590     0.9134
JACAMAN RANCH U 7, B2, L5   291173                      S    12/2003       350,000         318,640          350,000     0.9104
EMERALD HILLS PHII, B1, L   291372                      S    07/2003       203,272         201,680          203,272     0.9922
                                                                                       ___________      ___________     ______
                                                           STRATUM 5 TOTALS              2,162,170        2,248,222     0.9617

____________________________________________________________________________________________________________________________________


CATEGORY C  - TOTALS
____________________________________________________________________________________________________________________________________

STRATUM  COMP     SAMPLE      STRATUM          SAMPLE          SAMPLE          STRATUM      STRATUM           STRATUM     CATEGORY
_______  ____     ______      _______          ______          ______          _______      _______           _______     ________
         CODE     PARCELS     PARCELS     LOCAL VALUE       PTD VALUE      LOCAL VALUE        RATIO         PTD VALUE        RATIO
         ____     _______     _______     ___________       _________      ___________        _____         _________        _____

   1      U            0        2,937               0               0       13,021,525                     13,021,525
   2      R           19        4,173         300,920         289,311       61,994,891       1.0401        59,604,741
   3      R           17        2,706         421,850         480,972       61,453,888       0.8771        70,064,859
   4      R           26          812       1,738,210       1,935,091       61,757,292       0.8983        68,749,073
   5      R            7          202       2,162,170       2,248,222       61,646,554       0.9617        64,101,647

TOTAL                 69       10,830       4,623,150       4,953,596      259,874,150                    275,541,845       0.9431
____________________________________________________________________________________________________________________________________
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 011
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY F1 - STRATUM   2
$    111,181 - $    506,690

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
A41 POR 9 B DIAZ 2.6110 A   205474                      S    11/2003       350,000         301,370          350,000     0.8611
A296, 4.060 AC, TR 29-A (   207399                      S    03/2003       300,000         396,760          300,000     1.3225
L21 U II R M R INDUSTRIAL   221752                      S    02/2003       165,000         125,200          165,000     0.7588
L10 B3 UIERAMERICA DIST P   237113                      S    02/2003       425,000         292,650          425,000     0.6886
L5 B5 UIERAMERICA DIST PK   237138                      S    01/2003       350,000         313,350          350,000     0.8953
L26 B6 UIERAMERICA DIST P   237178                      S    10/2003       450,000         429,130          450,000     0.9536
L10 B2 PAN AMERICAN BUSIN   237226                      S    06/2003       530,000         462,920          530,000     0.8734
L7 B4 PAN AMERICAN BUSINE   237241                      S    12/2003       250,000         261,830          250,000     1.0473
VILLARREAL-OROZCO, B1, L5   256934                      S    03/2003       125,000         168,400          125,000     1.3472
U215 WITH A 1.9788% UI ,    258079                      S    06/2003       360,360         325,200          360,360     0.9024
U I-A PLANTATION SQUARE C   275589                      S    03/2003       200,000         208,230          200,000     1.0412
U9; U10; U11 SPRING CREEK   275654                      S    03/2003       282,000         237,860          282,000     0.8435
U11 SPRINGCREEK CONDOS 7.   275656                      S    03/2003       188,100         163,920          188,100     0.8715
U101;102 CRYSTAL COURT PL   276383                      S    01/2003       214,000         208,420          214,000     0.9739
FRENCH QUARTER CONDOS U #   291683                      S    03/2003       166,640         144,500          166,640     0.8671
                                                                                       ___________      ___________     ______
                                                           STRATUM 2 TOTALS              4,039,740        4,356,100     0.9274

____________________________________________________________________________________________________________________________________


CATEGORY F1 - STRATUM   3
$    506,691 - $  1,359,890

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

A64 SUR 1021 GB & CNG 2.7   198271                      S    09/2003     1,027,853         750,250        1,027,853     0.7299
A241, POR 28, 3.6467 AC     207069                      A                                  801,310          863,439     0.9280
L8 B1 PAN AMERICAN BUSINE   237212                      S    07/2003       700,000         519,200          700,000     0.7417
IH 35 INDUSTRIAL PARK, B1   238754                      A                                  822,240          855,423     0.9612
MILO DIST CTR II, B3, L11   238810                      A                                  712,520          759,261     0.9384
KILLAM IND PARK, U8, B11,   256114                      A                                1,312,600        1,326,532     0.9895
NW CORNER 38'X106' OF B54   277416                      S    01/2003       800,000         768,080          800,000     0.9601
                                                                                       ___________      ___________     ______
                                                           STRATUM 3 TOTALS              5,686,200        6,332,508     0.8979
____________________________________________________________________________________________________________________________________

CATEGORY F1 - STRATUM   4
$  1,359,891 - $  3,500,270

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

CALTON GARDENS, B13         209418                      A                                1,468,300        1,310,501     1.1204
CALTON GARDENS, TR 1A, 1.   209537                      A                                1,713,380        1,622,102     1.0563
KILLAM IND PARK I, B4, L6   237398                      A                                2,827,280        2,673,367     1.0576
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 012
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________


CATEGORY F1 - STRATUM   4
$  1,359,891 - $  3,500,270

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
L11 B9 KILLAM IND PARK V    237403                      S    03/2003     2,060,000       1,769,860        2,060,000     0.8592
UNITEC III, B13, L3, 4, 5   238748                      A                                1,917,270        2,132,663     0.8990
MILO DIST CTR II, B3, L14   238813                      A                                1,436,410        1,619,911     0.8867
UNITEC, B12, L1, PHASE 7    247832                      A                                1,669,850        1,799,896     0.9277
                                                                                       ___________      ___________     ______
                                                           STRATUM 4 TOTALS             12,802,350       13,218,440     0.9685

____________________________________________________________________________________________________________________________________

CATEGORY F1 - STRATUM   5
$  3,500,271 - $999,999,999

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

A282, POR 26, 3.1489 AC     206841                      A                                5,375,000        5,411,658     0.9932
A282 POR 26, 14.5706 AC     206930                      A                                6,577,150        6,375,535     1.0316
NORTH CREEK PLAZA, B1, L2   208670                      A                                3,779,810        3,735,285     1.0119
PLANTATION CENTER 1, B1,    222433                      A                                8,165,030        7,624,533     1.0709
QUIVIRA PROJECT 1, B1, L1   237252                      A                                4,114,690        4,380,466     0.9393
KILLAM IND PARK, U9, B14,   246992                      A                               11,053,950       12,242,839     0.9029
                                                                                       ___________      ___________     ______
                                                           STRATUM 5 TOTALS             39,065,630       39,770,316     0.9823

____________________________________________________________________________________________________________________________________


CATEGORY F1 - TOTALS
____________________________________________________________________________________________________________________________________

STRATUM  COMP     SAMPLE      STRATUM          SAMPLE          SAMPLE          STRATUM      STRATUM           STRATUM     CATEGORY
_______  ____     ______      _______          ______          ______          _______      _______           _______     ________
         CODE     PARCELS     PARCELS     LOCAL VALUE       PTD VALUE      LOCAL VALUE        RATIO         PTD VALUE        RATIO
         ____     _______     _______     ___________       _________      ___________        _____         _________        _____

   1      U            0        1,134               0               0       68,995,163                     68,995,163
   2      R           15        1,076       4,039,740       4,356,100      328,396,570       0.9274       354,104,561
   3      R            7          366       5,686,200       6,332,508      327,960,634       0.8979       365,252,961
   4      R            7          145      12,802,350      13,218,440      330,425,724       0.9685       341,172,663
   5      R            6           35      39,065,630      39,770,316      325,646,899       0.9823       331,514,709

TOTAL                 35        2,756      61,593,920      63,677,364    1,381,424,990                  1,461,040,057       0.9455
____________________________________________________________________________________________________________________________________
DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 013
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY L1 - STRATUM   2
$     38,511 - $    233,970

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____
TEXAS #20 RURAL CELLUAR     P190465                     A                                   92,290           89,601     1.0300
VICORIA'S SECRET #623       P190783                     A                                  204,840          185,470     1.1044
NPCR INC                    P261962                     A                                   42,720           41,109     1.0392
RADIO SHACK #9294           P266308                     A                                  141,650          142,937     0.9910
VFS LOAN RESIDUAL HOLDING   P277033                     A                                   83,630           85,794     0.9748
ROYAL LASERWASH             P277393                     A                                  105,000          112,785     0.9310
CARDINAL HEALTH 411 INC     P289430                     A                                   94,880           94,880     1.0000
                                                                                       ___________      ___________     ______
                                                           STRATUM 2 TOTALS                765,010          752,576     1.0165

____________________________________________________________________________________________________________________________________


CATEGORY L1 - STRATUM   3
$    233,971 - $    819,250

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

FOOT ACTION USA #309        P188544                     A                                  297,740          266,746     1.1162
FLEETPRIDE INC              P189991                     A                                  545,120          546,094     0.9982
CITICAPITAL                 P249333                     A                                  333,320          329,954     1.0102
ESA TEJAS                   P272724                     A                                  343,730          327,404     1.0499
CORPUS CHRISTI SMSA LP      P272917                     A                                  278,390          232,132     1.1993
AMPARTS LP                  P277332                     A                                  609,790          611,300     0.9975
UPS SUPPLY CHAIN SOLUTION   P277426                     A                                  584,860          506,220     1.1553
                                                                                       ___________      ___________     ______
                                                           STRATUM 3 TOTALS              2,992,950        2,819,850     1.0614
____________________________________________________________________________________________________________________________________

CATEGORY L1 - STRATUM   4
$    819,251 - $  2,925,970

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

ENTERPRISE RENT A CAR       P188467                     A                                1,196,750        1,171,064     1.0219
RUSH TRUCK CENTERS OF TEX   P189372                     A                                1,480,240        1,667,161     0.8879
MCCOY CORP #41              P189612                     A                                  832,410          843,015     0.9874
OFFICE DEPOT INC            P189816                     A                                1,207,290        1,204,096     1.0027
TOYS R US INC               P190356                     A                                1,696,730        1,683,458     1.0079
LACKS VALLEY STORES LTD     P276253                     A                                2,847,620        2,975,429     0.9570
BED BATH & BEYOND           P289275                     A                                1,457,260        1,472,306     0.9898
                                                                                       ___________      ___________     ______
                                                           STRATUM 4 TOTALS             10,718,300       11,016,529     0.9729

____________________________________________________________________________________________________________________________________

DATE: 06/22/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                         PAGE: 014
TIME: 13:06:17                                   2004 FIELD STUDIES CATEGORY WORKSHEET                                  REPT: PTS236
                                                          240/Webb                                                      VRSN: W
                                                        240-903/United ISD

____________________________________________________________________________________________________________________________________

CATEGORY L1 - STRATUM   5
$  2,925,971 - $999,999,999

LEGAL DESCRIPTION            ACCOUNT NUMBER             S/A SALE DATE    SALE PRICE    LOCAL VALUE        PTD VALUE      RATIO
_________________            ______________             ___ _________    __________    ___________        _________      _____

DILLARDS INC #726           P188371                     A                                5,870,200        5,630,813     1.0425
H E B                       P188909                     A                                2,954,520        3,066,457     0.9635
COCA COLA ENTERPRISES       P189384                     A                                2,944,270        2,863,729     1.0281
THE MAY DEPT STORES         P190571                     A                                3,548,050        3,644,121     0.9736
WAL MART                    P190890                     A                                7,568,950        7,692,755     0.9839
DOCTORS HOSPITAL OF LARED   P265290                     A                               11,183,000       11,465,055     0.9754
                                                                                       ___________      ___________     ______
                                                           STRATUM 5 TOTALS             34,068,990       34,362,930     0.9914

____________________________________________________________________________________________________________________________________


CATEGORY L1 - TOTALS
____________________________________________________________________________________________________________________________________

STRATUM  COMP     SAMPLE      STRATUM          SAMPLE          SAMPLE          STRATUM      STRATUM           STRATUM     CATEGORY
_______  ____     ______      _______          ______          ______          _______      _______           _______     ________
         CODE     PARCELS     PARCELS     LOCAL VALUE       PTD VALUE      LOCAL VALUE        RATIO         PTD VALUE        RATIO
         ____     _______     _______     ___________       _________      ___________        _____         _________        _____

   1      U            0        1,676               0               0       22,762,638                     22,762,638
   2      R            7        1,088         765,010         752,576      108,295,135       1.0165       106,537,270
   3      R            7          254       2,992,950       2,819,850      108,411,192       1.0614       102,139,808
   4      R            7           76      10,718,300      11,016,529      108,969,605       0.9729       112,004,939
   5      R            6           19      34,068,990      34,362,930      107,099,289       0.9914       108,028,333

TOTAL                 27        3,113      48,545,250      48,951,885      455,537,859                    451,472,988       1.0090
____________________________________________________________________________________________________________________________________
                                                        **** END OF REPORT ****