Pike County Board of Assessment Appeals & Revenue Cabinet v. Friend

SCHRODER, Judge:

This is an appeal from a judgment of the Pike Circuit Court affirming a decision of the Kentucky Board of Tax Appeals which exempted from taxation appellees’ leasehold interest in certain property owned by an airport. The Revenue Cabinet argues that it was error to adjudge the leasehold interest exempt from taxation. We agree and, therefore, reverse and remand.

In 1983 appellees, Senator Kelsey Friend and Denver Stewart, entered into a lease agreement with the Pike County Airport Board (“Airport Board”) whereby the Airport' Board would lease certain property located at the Pike…