Recently, a property owner posted a sign at the Post Office that they had a water tap for sale. The sign said they would sell their water tap for $12,500.  When the District called the home owner, they indicated they were too far from the main water line so probably would never hook up and therefore, could not use the water tap.  The tap came with the home when they bought the home several years ago. 
Our Office Manager explained that the Water District Rules and Regulations specifically addresses this issue.  Water tap (licenses) can not be sold from one property owner to another property. The regulation can be found in section 2.3 on page 4. 

2.3 Licenses (for a water tap) run with the land.  Licenses are appurtenant to licensed premises only and are not separately transferable. They are not affected by changes in the ownership of the licensed premises.

However, the District Office Manager explained, as a worse case scenario, water taps can be sold back to the District or, in some cases, the District has to revoke a water tap due to monthly payments being in arrears.  Recently the District repurchased a water tap for $3,000.