Each user and parcel being subject to water user charges as provided for hereinabove is assessed for the purpose of establishing the equivalent connection rating and the monthly service charge or fee to be charged or assessed to and against the property. The assessment takes into consideration the estimated volume of water to be used, the uniformity of the use of the water, the standby benefits of the water system for fire protection and for other factors so as to as nearly as possible fix the rate, charge or fee upon the same relative basis as is imposed upon other like property within the city that has the municipal water service available. (2003 Code § 9-01-15)