Understanding Valuation & Taxation
Real and personal property is taxable in Colorado unless specifically exempted by law.
Real property includes land, buildings, and fixtures that are physically incorporated into a building or affixed to land (HVAC, lighting, plumbing, etc.) Real property also includes possessory interests, which are private property interests or the right to the occupancy and use of an otherwise tax-exempt property.
Personal property includes machinery, equipment, furniture, and other articles related to the business of a commercial or industrial operation.