My meter is in my house, how does the city know how much water I used?

Most home meters now have a radio read device that transmits the reading to the city offices at the time of billing.

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1. When will I get my water bill?
2. What are the current water rates?
3. My meter is in my house, how does the city know how much water I used?
4. What do a I do if my water bill is estimated?