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DATE: 02/10/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                     PAGE: 001
TIME: 11:12:49                                           2004 ISD SUMMARY WORKSHEET                                 REPT: PTS265
                                                              109/Hill                                              VRSN: P

                                                        109-903/Covington ISD

____________________________________________________________________________________________________________________________________

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

A.  SINGLE-FAMILY RESIDENCES           11,954,620               1.1567                   10,335,108                11,954,620
B.  MULTIFAMILY RESIDENCES                      0                   **                            0                         0
C.  VACANT LOTS                         1,056,940                   **                    1,056,940                 1,056,940
D.  RURAL REAL(TAXABLE)                29,326,810               1.1753                   24,952,903                29,326,810
F1. COMMERCIAL REAL                       695,830                   **                      695,830                   695,830
F2. INDUSTRIAL REAL                             0                   **                            0                         0
G.  OIL,GAS,MINERALS                            0                   **                            0                         0
J.  UTILITIES                           1,504,890                   **                    1,504,890                 1,504,890
L1. COMMERCIAL PERSONAL                   357,900                   **                      357,900                   357,900
L2. INDUSTRIAL PERSONAL                   659,770                   **                      659,770                   659,770
M.  MOBILE HOMES                        1,337,400                   **                    1,337,400                 1,337,400
N.  INTANGIBLE PERS/UNCERT                      0                   **                            0                         0
O.  RESIDENTIAL INVENTORY                       0                   **                            0                         0
S.  SPECIAL INVENTORY                           0                   **                            0                         0
                              ___________________                               ___________________       ___________________

SUBTOTAL                               46,894,160                                        40,900,741                46,894,160

LESS TOTAL DEDUCTIONS                  11,276,030                                         9,926,628                11,276,030
                              ___________________                               ___________________       ___________________

TOTAL TAXABLE VALUE                    35,618,130                                        30,974,113                35,618,130 T2
____________________________________________________________________________________________________________________________________

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

HOMESTEAD & VETS        7,408,216          7,408,216    MKT VALUE NON-QUAL

CAP VALUE LOSS          2,618,385          2,263,668    ACRES & FRM/RNCH IMPRV           26,351,570         1.1793        22,345,095

OVER 65 FREZ LOSS       1,223,916            229,231    PROD VAL QUAL ACRES               2,975,240         1.1409         2,607,808

ALL OTHER                  25,513             25,513
                  _______________    _______________                                _______________                  _______________

TOTAL DEDUCTIONS       11,276,030          9,926,628    TOTAL TAXABLE VALUE              29,326,810                       24,952,903

DATE: 02/10/2005                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                     PAGE: 002
TIME: 11:12:49                                           2004 ISD SUMMARY WORKSHEET                                 REPT: PTS265
                                                              109/Hill                                              VRSN: P
                                                        109-903/Covington 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
___________________  ___________________  ___________________  ____________________   ____________________    ___________________

       39,533,113              3,914,983        35,618,130                       0           39,533,113             35,618,130

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 INVALID, BUT LOCAL VALUE WAS CERTIFIED BECAUSE YOUR LOCAL
VALUE IS HIGHER THAN THE STATE VALUE
                                                      **** END  OF  REPORT ****