The way this main water shutoff line is covered seems a bit odd. Has anyone seen “insulation” like this and if so please explain further.
Thanks,
Mike
Heat tape possibly?
One guess, they had condensation dripping on the floor, trying to stop it. Another guess, may have been trying to cover up a lead and/or galvanized steel water line. These are guesses only! Are those 9 inch floor tiles?
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I agree with Junior, it a DIY pipe insulation to stop the sweating and a poor job at that. 
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I think what you are referring to is a water meter. The shutoff valve, the gate valve to the left, is the municipal potable water supply, main water shut off valve.
The pipe has been insulated and painted. The tape is to keep the mechanically altered pipe insulation from unraveling and for a clean look.
Have I seen this before? Pipe insulation can be common on both hot and cold water supply lines. To say I saw an exact replication, no but something similar, yes.
Hope that helps.
Ops. Almost forgot. The best looking bonding jumper I have seen for some time.
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Yup, agree with Junior and Marcel… 
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Are you going to write it up?
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Junior has it. I would note it on my report. Could be slight leak, sweating etc. They should have used FLEX SEAL!! 
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I thought heat tape requires a thermostat and I did not see that present.
Right from Google; Heat tape is quick fix. … When the temperature drops, a small thermostat (built in on most models) calls for power that produces heat , then cuts off power after the temperature rises. You can leave these models plugged in . The problem is that some people leave them plugged in for decades.
I will mention they monitor and replace if applicable (if current installation isn’t preventing the line from sweating)
