(Download) "Douglas County Board Of Equalization V. Fidelity Castle Pines" by Colorado Supreme Court # Book PDF Kindle ePub Free
eBook details
- Title: Douglas County Board Of Equalization V. Fidelity Castle Pines
- Author : Colorado Supreme Court
- Release Date : January 21, 1995
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 83 KB
Description
We granted certiorari to review two decisions of the Colorado Court of Appeals that present a common issue as to the manner of valuing vacant land for property tax assessment purposes. The issue is whether section 39-1-103(14)(b), 16B C.R.S. (1991 Supp.), prior to its amendment in 1992, required assessing officers to consider indirect costs, such as developer's profit and overhead, as part of the "cost of development" when using the market approach to appraisal. The 1992 amendment disallowed consideration of indirect costs, thereby raising the question of whether the 1992 amendment changed or merely clarified the prior law. In Fidelity Castle Pines, Ltd. v. Douglas County Bd. of Equalization, No. 92CA1453 (Colo. App. Nov. 12, 1993) (not selected for official publication), the court of appeals reversed a decision of the Board of Assessment Appeals (BAA) which held that indirect costs should not be considered. In Roxborough Village v. Douglas County Bd. of Equalization, No. 92CA1414 (Colo. App. Nov. 18, 1993) (not selected for official publication), the court of appeals affirmed a decision of the BAA which required consideration of indirect costs. We hold that prior to amendment in 1992, section 39-1-103(14)(b) required indirect costs to be considered when using the market approach to appraising vacant land for tax assessment purposes and that the 1992 amendment changed rather than clarified existing law. We therefore affirm the judgment of the court of appeals in each of the two cases.
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