City & County of Denver v. Board of Assessment Appeals

We granted certiorari to review the court of appeals decision in Board of Assessment Appeals v. City & County of Denver, 829 P.2d 1319 (Colo.App.1991), affirming a de novo valuation by the Board of Assessment Appeals (BOAA) of respondent Regis Jesuit Holding, Inc.’s (Regis) property. The court of appeals held that the BOAA properly considered both actual and market rent in valuing Regis’ property. Because the consideration of actual rent in determining the value, for ad valorem tax purposes, of real property subject to an existing long-term below-market lease is appropriate, we affirm.

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The…