Colo. Rev. Stat. § 35-65-102
The boards of county commissioners in this state, for the purpose of encouraging their respective counties in making a suitable display at any fair held in their counties, may offer special premiums for the best display of the products of the soil, the different grades of thoroughbred stock, fruits of all kinds, dairy products, or whatever else is calculated to encourage and promote agricultural pursuits. The boards of county commissioners are authorized to remit the taxes for state and county purposes and the municipal authorities of any city or town to remit the municipal taxes on the property, real and personal, of any agricultural and mechanical fair associations duly organized under the laws of the state of Colorado when said property is actually and exclusively employed for the use and purposes of said fair associations within their respective counties, cities, or towns.
C.R.S. § 35-65-102