City & County of Denver v. Board of Assessment Appeals

In this case, transferred from the court of appeals pursuant to C.A.R. 50, 1 we reverse a decision of the Board of Assessment Appeals (BAA). The question before BAA was whether the City and County of Denver (Denver) could tax the ownership interests of the Fire and Police Pension Association (FPPA) in real and personal property located within Denver. Denver challenges the validity of BAA's decision in favor of FPPA's exemption from ad valorem taxation. We reverse BAA's action because the General Assembly has not provided for FPPA's ownership interest in real or personal property to be exempt…