Daily Tax Report: State

Colorado Court of Appeals Finds Taxpayer Possessed Taxable Ownership Interest in Hangar Facility, Affirms Assessment

Sept. 10, 2019, 9:31 PM

The Colorado Court of Appeals Aug. 29 affirmed the Board of Assessment Appeals’ decision, finding that Taxpayer possessed a taxable ownership interest in a hangar facility at an airport. The airport was owned by the Arapahoe County Airport Authority. The authority leased the property to an entity, which entered into a sublease with Taxpayer to construct a hangar facility. Taxpayer had the exclusive right to possess, use, operate, and receive revenues from the facility. Taxpayer also held the title to all improvements in the facility. The county issued a property tax assessment to Taxpayer. Taxpayer sought an abatement, contending that...

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