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The Value of a Water Right <br />•The value of a water right is based on its <br />beneficial use. <br />•Absent a measuring device that allows for <br />accurate measurement of the diversion of a <br />water right, the value of the water right is as <br />good as your guess or the water <br />commissioner’s guess. <br />•Absent records of diversion of water under a <br />water right, the water right has no value.