How do I buy water shares in Utah?
An irrigation or ditch digging company might obtain water rights of their own from the Utah Division of Water Rights. The company can then divide shares of these rights among their stockholders, typically in the physical form of a share receipt.
How do water shares work in Utah?
In Utah, all water is owned by the public. … For example, if a ditch company owns a water right for 1,000 acre-feet of water and the company has 1,000 shareholders, each share represents the right to use 1 acre-foot of water from the company’s water right. The two terms are not interchangeable.
How much is an acre foot of water worth in Utah?
Economist Paul Jakus with Utah State University estimates the current value roughly between $112 and $150 per acre-foot, while the yield per acre using a center-pivot irrigation system is about 5.25 tons.
How many acre feet are in a share of water?
An acre foot of water equals about 326,000 gallons, or enough water to cover an acre of land 1-foot deep.
Can I drill my own well in Utah?
Answer: You must own a water right to divert and use water in the State of Utah. Water well drillers are licensed and cannot drill a well unless permission to drill has been obtained from the State Engineer. You must determine if your area is open, restricted or closed to new water rights.
Do I own the water under my land?
Who owns the water in the province? In Alberta, just as in other Canadian provinces, the provincial government owns all water in the province. The province asserts this ownership right under the Water Act. It does not matter if the water is located on private land or public land, the government owns it.
Who owns the water in Utah?
The State Engineer is the chief water rights administrative officer for the state. A complete “water code” is presently in force mostly as Utah Code, Title 73. The State Engineer is the Director of the Division of Water Rights. It follows that all waters in Utah are public property.
How much is an acre-foot of water worth?
California farmers pay an average of $70 per acre-foot for water to irrigate crops. Buy a $700 reverse osmosis water purification system; run 326,000 gallons of water (one acre foot) through it; bottle it, and the value of that acre-foot is $2.4 million.
Does Utah sell water to other states?
Utah is one of the so-called upper basin states that get their share of water based on percentages of what’s available but historically haven’t used it all. The lower basin states — Arizona, California and Nevada — get specific amounts that are subject to cuts.
How much is an acre ft?
One acre-foot equals about 326,000 gallons, or enough water to cover an acre of land, about the size of a football field, one foot deep. An average California household uses between one-half and one acre-foot of water per year for indoor and outdoor use.
Who owns the water rights to a property?
Water rights are appurtenant, meaning they run with the land and not to the owner. If an oceanfront property is sold, the new owner gains the littoral rights and the seller relinquishes their rights.