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<br />CHAPTER IV UTILIZATION OF AGRICULTURAL WATER RIGHTS <br />Consumptive Use by County in Division 5 <br />1981 through 1985 Average <br />Garfield (21 <br />Routt (0.9%) <br />Pitkin (5.9%) <br />7%) <br />-and (5.6 %) <br />Mesa (55.5%) <br />Figure <br />Costs <br />Placing a value on the upstream water rights does not have a clear solution. The cost of <br />water rights varies considerably as does the process of appraising the value of a water right. <br />Appraising the value of water rights is summarized in the following excerpt. <br />"Economists, engineers, lawyers, real estate professionals, and others involved in <br />water transfers are frequently asked to place a realistic value on a water right that <br />is up for sale. Such a task can be difficult because the art of water right valuation <br />is relatively unrefined. Whereas real estate appraisers fall back on decades of <br />experience and standardized techniques, water right appraisals are generally ad hoc <br />and their outcomes can vary significantly depending on the appraiser's choice of <br />methodology and assumptions. <br />28 <br />n---•. i. . _\