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Possessory Interest
A private property interest in government-owned property or the right
to the occupancy and use of any benefit in government-owned property
that has been granted under lease, permit, license, concession,
contract, or other agreement. Any use or occupancy of government
property by any person, partnership, corporation, limited-liability
corporation (LLC) or other legal entity for the purposes of generating
revenue from a business or operation.
Examples of Taxable Possessory Interests:
- Private concessionaires using government owned land,
improvements, or personal property that are not operating pursuant
to a management contract as defined in 39-1-103(17)(a)(III),
C.R.S.
- Government land and improvements used in the operation of a farm
or ranch.
- Government land, improvements, and/or personal property used in
the operation of ski or recreational areas.
- Land underlying privately owned cabins or other residential
property located on government land that are rented.
- Recreational use of lakes, reservoirs, and rivers in a
revenue-generating capacity.
- Land, improvements, and personal property at a tax-exempt
airport.
- Other government property leased to private parties and used in
a revenue generating capacity.
Last updated:
Tuesday, September 09, 2008 12:19 PM
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