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27 COST OF WHOLESALE WATER Operation and maintenance Production supervision Management expense Depreciation Taxes - Property (Land) - Federal income Interest at 64$ on #747»100 755,300 Estimated cost of all water produced Proportionate cost to water utility 1949 - 97.32$ 1950 - 9$*00$ Cost as charged "Joint Rents" Amounts billed low under contract 1949 Adjusted # 25,249 5,104 3,037 10,406 3,065 26,619 46,694 1950 Estimated # 26,500 5,200 3,100 10,456 3,065 26,933 47,206 1122,174 #124,460 116,900 105*761 121,971 :U4,204 # 13,136 # 7 , 7 6 7 ir computed on the bases of original cost and present-day cost are shown in Table 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 intracounty 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 1936-1949: #270,000 - 270,000 325,000 375.000 375.000 400.000 All water properties of the company are within the City of Las Vegas, where for several years past the tax rate has been maintained at the top legal limit of 1936 - #115,000 1944 1939 - 130,000 1945 1940 - 150,000 1946 1941 - 150,000 1947 1942 - 150,000 1946 1943 - 225,000 1949