For purposes of property taxation, it shall make no difference that the use, possession, or ownership of any taxable property is qualified, limited, not the subject of alienation, or the subject of levy or distraint separately from the particular tax derivable therefrom. Severed mineral interests shall also be taxed.
Source: L. 64: R&RE, p. 677, § 1. C.R.S. 1963: § 137-1-6. L. 73: p. 1430, § 2. L. 96: Entire section amended, p. 1850, § 2, effective June 5. L. 2002: Entire section amended, p. 1008, § 2, effective August 7.
ANNOTATION
This section establishes a unity rule for the assessment of property rather than requiring assessment of the various interests in the property. Bd. of Assess. Appeals v. City & County of Denver, 829 P.2d 1319 (Colo. App. 1991), aff'd, 848 P.2d 355 (Colo. 1993).
The unit assessment rule established in this section has no application in the absence of multiple taxpayers with interests in a single property. Rare Air Ltd. v. Prop. Tax Adm'r, 2019 COA 134, 459 P.3d 547.
Taxation of development rights does not violate the unit assessment rule. Because the assignment of the development rights created separate interests in real estate as between the interests of the individual unit owners, on the one hand, and those of the owners of the development rights, on the other hand, separate taxation of those interests does not violate the unit assessment rule. Vill. at Treehouse v. Prop. Tax Adm'r, 2014 COA 6, 321 P.3d 624.
Section does not apply to golf club membership that created a license and not an interest in land. Roaring Fork Club v. Pitkin Bd. of Equaliz., 2013 COA 167, 342 P.3d 467.