Appraisal Summary Statement

The following is an excerpt from the appraisal report provided to The Town of Apple Valley by an independent appraiser.

BASIS OF VALUATION:

The fair market value for the property proposed to be acquired is based upon an appraisal prepared in accordance with generally accepted appraisal principles and methodologies.

DATE OF VALUATION: The fair market value of the property was estimated as of March 24, 2015.
Apple Valley Ranchos Water System
Estimated Rate Base as of March 24, 2015

Description Rate Base ($)
Net Plant in Service 86,491,033
Materials & Supplies 363,850
Cash Working Capital 2,267,680
Deferred Taxes and Tax Credits -12,174,055
Construction Work in Progress 569,952
Contributions in Aid of Construction -2,246,671
Customer Advances -29,008,109
Total Rate Base $46,263,680