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DATE: 02/10/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                     PAGE: 001
TIME: 11:02:11                                           2004 ISD SUMMARY WORKSHEET                                 REPT: PTS265
                                                              040/Cochran                                           VRSN: P

                                                        040-901/Morton ISD

____________________________________________________________________________________________________________________________________

                                        LOCAL TAX             2004 WTD                     2004 PTD                2004 VALUE
CATEGORY                               ROLL VALUE           MEAN RATIO               VALUE ESTIMATE                  ASSIGNED
________                      ___________________           __________          ___________________             _____________

A.  SINGLE-FAMILY RESIDENCES           16,154,360               1.0057                   16,062,802                16,154,360
B.  MULTIFAMILY RESIDENCES                528,970                   **                      528,970                   528,970
C.  VACANT LOTS                           246,150                   **                      246,150                   246,150
D.  RURAL REAL(TAXABLE)                25,242,070                .9778                   25,816,095                25,242,070
F1. COMMERCIAL REAL                     3,223,130                .9473                    3,402,439                 3,223,130
F2. INDUSTRIAL REAL                     2,514,990                   **                    2,514,990                 2,514,990
G.  OIL,GAS,MINERALS                    4,766,390               1.0232                    4,658,317                 4,766,390
J.  UTILITIES                           3,509,650               1.0835                    3,239,179                 3,509,650
L1. COMMERCIAL PERSONAL                 4,507,530                .9810                    4,594,832                 4,507,530
L2. INDUSTRIAL PERSONAL                 1,570,640                   **                    1,570,640                 1,570,640
M.  MOBILE HOMES                          432,690                   **                      432,690                   432,690
N.  INTANGIBLE PERS/UNCERT                      0                   **                            0                         0
O.  RESIDENTIAL INVENTORY                       0                   **                            0                         0
S.  SPECIAL INVENTORY                           0                   **                            0                         0
                              ___________________                               ___________________       ___________________

SUBTOTAL                               62,696,570                                        63,067,104                62,696,570

LESS TOTAL DEDUCTIONS                   9,888,280                                         9,863,813                 9,888,280
                              ___________________                               ___________________       ___________________

TOTAL TAXABLE VALUE                    52,808,290                                        53,203,291                52,808,290 T2
____________________________________________________________________________________________________________________________________

                   LOCAL REPORTED       PTD ESTIMATE                                 LOCAL TAX ROLL          RATIO         PTD VALUE
                   ______________       ____________                                 ______________                      ___________

HOMESTEAD & VETS        9,225,480          9,225,480    MKT VALUE NON-QUAL

CAP VALUE LOSS                  0                  0    ACRES & FRM/RNCH IMPRV            5,239,450          .9572         5,473,725

OVER 65 FREZ LOSS         662,800            638,333    PROD VAL QUAL ACRES              20,002,620          .9833        20,342,370

ALL OTHER                       0                  0
                  _______________    _______________                                _______________                  _______________

TOTAL DEDUCTIONS        9,888,280          9,863,813    TOTAL TAXABLE VALUE              25,242,070                       25,816,095

DATE: 02/10/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                     PAGE: 002
TIME: 11:02:11                                           2004 ISD SUMMARY WORKSHEET                                 REPT: PTS265
                                                              040/Cochran                                           VRSN: P
                                                        040-901/Morton ISD

____________________________________________________________________________________________________________________________________

SB4, PASSED BY THE 1999 LEGISLATURE, REQUIRES THE COMPTROLLER TO CERTIFY ALTERNATIVE MEASURES OF SCHOOL DISTRICT
WEALTH (T1, T3 AND T4) IN ADDITION TO THE TRADITIONAL MEASURE (T2).  QUESTIONS ABOUT THE EXTENT TO WHICH ANY OF
THESE WEALTH MEASURES AFFECT SCHOOL FUNDING SHOULD BE DIRECTED TO THE DIVISION OF STATE FUNDING AT  THE TEXAS
EDUCATION AGENCY, TELEPHONE #512-463-9238

                          LOSS TO                                 50% OF THE LOSS
                      THE ADDITIONAL                           TO THE LOCAL OPTIONAL
                     $10,000 HOMESTEAD                          PERCENTAGE HOMESTEAD
        T1                EXEMPTION               T2                 EXEMPTION                T3                     T4
___________________  ___________________  ___________________  ____________________   ____________________    ___________________

       57,290,640              4,482,350        52,808,290                       0           57,290,640             52,808,290

T1 = SCHOOL DISTRICT TAXABLE VALUE BEFORE THE LOSS TO THE ADDITIONAL $10,000 HOMESTEAD EXEMPTION
T2 = SCHOOL DISTRICT TAXABLE VALUE AFTER THE LOSS TO THE ADDITIONAL $10,000 HOMESTEAD EXEMPTION
T3 = T1 MINUS 50% OF THE LOSS TO THE LOCAL OPTIONAL PERCENTAGE HOMESTEAD EXEMPTION
T4 = T2 MINUS 50% OF THE LOSS TO THE LOCAL OPTIONAL PERCENTAGE HOMESTEAD EXEMPTION



THE PVS FOUND YOUR TAXABLE VALUE TO BE VALID, AND LOCAL VALUE WAS CERTIFIED.
                                                      **** END  OF  REPORT ****