Cantina Grill, Jv; Airport Lounges, LLC, a Colorado Limited Liability Company; Dos Amigos Joint Venture, a Colorado…

Summary

The court held that the concessionaires' interests in airport concession spaces were taxable possessory interests because they were sufficiently exclusive and generated revenue independently of the City under the applicable three-factor test. It also upheld the City's valuation, concluding that use of the minimum monthly guarantee and exclusion of common-area payments complied with the statutory valuation scheme and was supported by the record. The court affirmed the judgment of the court of appeals, though on slightly different grounds.