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DATE: 01/23/2006                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                     PAGE: 001
TIME: 10:22:15                                           2005 ISD SUMMARY WORKSHEET                                 REPT: PTS265
                                                              072/Erath                                             VRSN: W
                                                        072-901/Three-Way ISD

____________________________________________________________________________________________________________________________________

                                        LOCAL TAX             2005 WTD                     2005 PTD                2005 VALUE
CATEGORY                               ROLL VALUE           MEAN RATIO               VALUE ESTIMATE                  ASSIGNED
________                      ___________________           __________          ___________________             _____________

A.  SINGLE-FAMILY RESIDENCES            1,136,440                   **                    1,136,440                 1,136,440

B.  MULTIFAMILY RESIDENCES                      0                   **                            0                         0

C.  VACANT LOTS                           133,780                   **                      133,780                   133,780

D.  RURAL REAL(TAXABLE)                28,275,480                .9246                   30,581,971                28,275,480

F1. COMMERCIAL REAL                       376,060                   **                      376,060                   376,060

F2. INDUSTRIAL REAL                             0                   **                            0                         0

G.  OIL,GAS,MINERALS                            0                   **                            0                         0

J.  UTILITIES                           3,204,880                .9282                    3,452,790                 3,204,880

L1. COMMERCIAL PERSONAL                   670,360                   **                      670,360                   670,360

L2. INDUSTRIAL PERSONAL                         0                   **                            0                         0

M.  MOBILE HOMES                          530,800                   **                      530,800                   530,800

N.  INTANGIBLE PERS/UNCERT                      0                   **                            0                         0

O.  RESIDENTIAL INVENTORY                       0                   **                            0                         0

S.  SPECIAL INVENTORY                           0                   **                            0                         0
                              ___________________                               ___________________       ___________________

SUBTOTAL                               34,327,800                                        36,882,201                34,327,800

LESS TOTAL DEDUCTIONS                   3,166,365                                         3,166,365                 3,166,365
                              ___________________                               ___________________       ___________________

TOTAL TAXABLE VALUE                    31,161,435                                        33,715,836                31,161,435 T2*

                                                                                 * THIS DISTRICT IS IN YEAR 1 OF THE GRACE PERIOD.
____________________________________________________________________________________________________________________________________

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

HOMESTEAD & VETS        2,122,600          2,122,600    MKT VALUE NON-QUAL

CAP VALUE LOSS             67,770             67,770    ACRES & FRM/RNCH IMPRV           23,215,020          .8882        26,137,154

OVER 65 FREZ LOSS         975,495            975,495    PROD VAL QUAL ACRES               5,060,460         1.1385         4,444,817

ALL OTHER                     500                500
                  _______________    _______________                                _______________                  _______________

TOTAL DEDUCTIONS        3,166,365          3,166,365    TOTAL TAXABLE VALUE              28,275,480                       30,581,971
DATE: 01/23/2006                         COMPTROLLER OF PUBLIC ACCOUNTS - PROPERTY TAX DIVISION                     PAGE: 002
TIME: 10:22:15                                           2005 FINAL VALUES WORKSHEET                                REPT: PTS265
                                                              072/Erath                                             VRSN: W
                                                        072-901/Three-Way 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
___________________  ___________________  ___________________  ____________________   ____________________    ___________________
       32,324,875              1,163,440        31,161,435                       0           32,324,875             31,161,435

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 SCHOOL DISTRICT IS IN
YEAR ONE/TWO OF A GRACE PERIOD.

                                                      **** END  OF  REPORT ****