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27 i % DOST OF WHOLESALE WATER Operation and maintenance Production supervision Management expense Depreciation Taxes - Property (Land) • federal income Interest at 64$ on #747»100 - iff-tu, £ 7551>00 - "fcfckS Estimated cost of all water produced Proportionate cost to water utility 1949 - 97.32$ 1950 ~ 93.00$ Cost as charged "Joint Rents" Amounts hilled low under contract 1949 Adjusted 1 25*249 5,104 3,037 10,406 3,065 23,619 46,694 we 1950 Estimated | 26,500 5,200 3,100 10,456 3,065 23,933 47,206 1122,174 T124,460 113,900 mm - 121,971 105,764 114*204 f13,136 $ 7,767 Comparable costs of wholesale water computed on the bases of original coat and present-day cost are shown in fable 0 of the appendix. Taxes Ad Valorem Taxes The principal operating tax of the Las Vegas Water Utility is the ad valorem or general property tax. In Nevada, county assessors have the power to fix assessed valuations of intraeounfcy utilities, although the State Tax Commis­sion, in the interest of equalisation between counties, makes recom­mendations for assessed values and these are invariably accepted by each county assessor and placed upon the tax rolls. The assessed values of the water utility properties of Las Vegas Land and Water Company as fixed by the Clark County Assessor have been as follows over the period 1933-1949: 1933 - #115,000 1944 - #270,000 1939 - 130,000 1945 - 270,000 1940 - 150,000 1946 - 325,000 1941 - 150,000 1947 - 375,000 1942 - 150,000 1943 - 375,000 1943 - 225,000 1949 - 400,000 All water properties of the company are within the City of Las Vegas, where for several years past t @ tax rate has been maintained at the top legal limit of