[{"_1":2,"_111":-5,"_112":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6262815,"mediaKeyId","3111518-6bab85894ec6bfa82fe710896f9d123a","parentId",3111518,"title","Taxpayer and assessor clash over vacancy adjustments at French Market Mall; decision deferred","audioSeconds",218,"startMs",3490000,"endMs",3708000,"viewUrl","/Search/View?dp=1&key=3111518-6bab85894ec6bfa82fe710896f9d123a&start=3490&end=3708","thumbnailUrl","https://assets.pipeline.soar.com/3111518-6bab85894ec6bfa82fe710896f9d123a/thumbnail_3490000.jpg","articleUrl","/articles/6262815/Oklahoma-County/Oklahoma/Taxpayer-and-assessor-clash-over-vacancy-adjustments-at-French-Market-Mall-decision-deferred","mediaUrl","https://secure.pipeline.soar.com/6262815-c576226f1e481b0ec861217259260692/orig.mp4?Expires=1773603895&Signature=QHQk5kfaPbmIt52NUZ5jNvISIfmOB25qMdNzou0dhFHAPuCjH0lpQX7lpm-UCtGuzc~J-cZsaHEfxXiJKhP0tj2CYFVpt~-QqeBs8aD0lJy~n9KlfBAnqMy5DFVsFMLaXxwuKvxHFBI2qI7q1nljXMm3iOj4rmexTKQljjRV5UW6asmQLvdS34HIx8JYsu8wCkWzPRmfZI34C~HWJvjSH5gGyn1xDVwQrXYSBIFjqHfKqO9FQmg~jRawFIe4W06mpe2ITqHJYBY1Na5l3MkM-DyfhzUMz0~TMlV1jPU~~OEUnmeGh1LGaljBL1aZkT2V8xU0-Fu5QDQVGB4LuBci7g__&Key-Pair-Id=KUT5TJCACFTXG","author","Oklahoma County, OK","date","2025-04-24T16:09:32.587Z","article","A dispute over how to account for vacancy at French Market Mall left the Oklahoma County Board of Equalization without a decision today as the board said it will issue a written ruling after its May 1 meeting.

Zachary Whitaker, the taxpayer\fonsultant appearing by phone, told the board the shopping center was about 50% vacant at the valuation date and that buyers would apply lease-up costs and absorption risk when valuing such a property. He said he converted that difference into a lease-up deduction of approximately $5,530,000, which reduced his income-approach indicated value to about $13.3 million. Whitaker summarized the methodological point: \"If the property is 50% vacant in the same market, no rational buyer would buy the top or would pay the same price that they would for [a] stabilized asset,\" and urged the board to apply lease-up adjustments consistent with appraisal standards.

Rafael, representing the assessor's office, said the assessor used market-derived inputs and a fee-simple approach and that market vacancy rates should govern. He said his office had used a market vacancy assumption higher than typical for the submarket (he said he used 15% for this property) and that, based on market indicators and a 2024 sale of Penn Crossing Shopping Center, the assessor's fee-simple indicated value for the parcel was $19,418,800. Rafael said one direct comp could not alone govern a market value and that the assessor had adjusted the appellant's income figures downward to reflect market norms.

The two sides also discussed leases signed after the valuation date: a Hobby Lobby lease was cited by Whitaker as evidence the property was stabilizing; assessor staff said the lease's timing relative to Dec. 31, 2024, affected whether it could be used to value the property on the valuation date. Whitaker said lease documents had been provided to the assessor and were included in the appellant's packet.

Board chair Miss Thompson closed the hearing without issuing a decision and told the participants that the board will meet May 1 to issue a written ruling: \"We will make our decision next Thursday, May 1, and we will notify you by mail of our decision.\" No vote was recorded at the hearing.

Ending: The case exposes a recurring appraisal-method question for commercial assessments: whether and when to apply lease-up (stabilization) deductions when a property's vacancy rate materially exceeds market norms. The board's written decision will state which inputs and dates it treated as controlling for the valuation.","mediaType","Video","parentTitle","BOE Special Meeting 04/21/2025","oneSentenceSummary","A contested appraisal of French Market Mall turned on whether the county assessor must apply lease-up adjustments for a property the taxpayer says was roughly 50% vacant at the valuation date.","taxTitle","Oklahoma County, Oklahoma","taxId",2676,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6262822,"Board of Equalization approves three property valuations, schedules other appeals for May 1",3066,2451000,5517000,"/Search/View?dp=1&key=3111518-6bab85894ec6bfa82fe710896f9d123a&start=2451&end=5517","https://assets.pipeline.soar.com/3111518-6bab85894ec6bfa82fe710896f9d123a/thumbnail_2451000.jpg","/articles/6262822/Oklahoma-County/Oklahoma/Board-of-Equalization-approves-three-property-valuations-schedules-other-appeals-for-May-1","https://secure.pipeline.soar.com/6262822-e90f143c2f14a263d68bebc0efcc46c7/orig.mp4?Expires=1773603895&Signature=J6-ZdqkBUP8IPJHyA4ds888TAJ9B2TAw9Jstpv-TheepCLMgSDwgmLsysCCGyTZeF1Mc5AiXi5shru75xMlMD~Jqvlsl2YC8HtEJ46qes-~-bTkbOgYTRZZQ8V9DDDNIKKOJPdFsPFh4AfRRycyfLsofggnZPJFTc9U4ACXKjo8ZueIV3FTBo1mPkFF~NUBcCH0w1TRvJSj~12wwQC4cgepVqaS2Lcz3mA926QV3Z2w3KP3lXWK0i66DyPrNkVDVd2FDJ1DGX17JKLO9cN9kKUZW7OPwKbRDqMb9DKSb-kopnHEF3OmVK2fYye3DvzyennkltTD9cbuzJEEpvdiB5A__&Key-Pair-Id=KUT5TJCACFTXG","The Oklahoma County Board of Equalization set fair-market values on three properties and deferred several contested appeals to its next meeting on May 1.

At today\u000boe proceedings the board approved three motions to establish values for individual properties after brief presentations and agreement between appellants and assessor representatives. Board chair Miss Thompson said decisions will be mailed: \"We will make our decision next Thursday, May 1, and you will be notified by mail,\" a statement repeated for multiple cases.

Votes at a glance:
- BOE 90 (agenda item 3): Board set fair-market value at $1,255,309. Motion recorded and approved with votes in favor by Towne, Sellers and the chair.
- BOE 5 (agenda item 2): Board set fair-market value at $464,000 after the assessor and the appellant agreed on a lower figure; Towne, Sivers and the chair voted yes.
- BOE 808 / BOE 80 (agenda item 4): By agreement the board set the fair-market value at $159,000 using sales the appellant provided; the motion carried with Sellers, Towne and the chair voting in favor.

Several contested items were continued or deferred. For example, residential appeals where homeowners disputed comparable sales or post-sale remodel adjustments were carried over to the next meeting for a written decision. Commercial appeals that raised valuation method disputes were also not decided today.

Board process and notification: The board emphasized it is an appellate body and will not normally accept new evidence at the hearing unless the assessor agrees. Chair Miss Thompson repeatedly stated that formal decisions would be issued in writing after the board meets on May 1.

Ending: The board met further to hear additional telephonic appeals and to schedule remaining commercial hearings. Appellants and assessor staff were told to expect mailed notices of the board\recision the week of May 1.","Oklahoma County\u000board of Equalization voted to set fair-market values on three residential properties at hearings today and deferred decisions on multiple other appeals to May 1. Three motions passed unanimously; several contested commercial and residential appeals were continued for a written decision.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6262808,"Owner contests $165,000 valuation after fire repair and remodel; board to decide May 1",1011,302000,1313000,"/Search/View?dp=1&key=3111518-6bab85894ec6bfa82fe710896f9d123a&start=302&end=1313","https://assets.pipeline.soar.com/3111518-6bab85894ec6bfa82fe710896f9d123a/thumbnail_302000.jpg","/articles/6262808/Oklahoma-County/Oklahoma/Owner-contests-165000-valuation-after-fire-repair-and-remodel-board-to-decide-May-1","https://secure.pipeline.soar.com/6262808-0a38d28506d4df85573118de13cb3ae4/orig.mp4?Expires=1773603895&Signature=Oa5Nk35tmhn5L44~CpZkRJQyjPszbTyF0vJqyPbn4ja2WD0Fxgxz0VEmqVo9rri0AKoHOylfuRXg-wWJzlBKU9lQXsqrall4w93dfyMKqOA4648J~3QY5s-0HUrmsFwBdjLVsNTPXcr5u7HU~TV5LWqkI7TNrEM9xLfV5kqMsjSfT9rJFaE6jkm46z2SFrT62oMkrAyLfvEC~HT~H5F9mFZ-gzYQquAK0DPnePQAu0izWUBMv9fLqtDl4akPCQoQdyW9ssL8HIIy2EZGqABO6S1Ett63Ss~PL8uWaDw2nyW7oXC~2-pHRMB6D9LGoS9kgudJLPE95H17c2Sxw3z0vw__&Key-Pair-Id=KUT5TJCACFTXG","The owner of a townhouse at 3317 Rock Creek challenged the assessor's fair-market value after completing a fire repair and remodel, telling the Board of Equalization she believed the assessor's $165,000 valuation overstated the market value.

The appellant, introduced in the hearing as Miss Ajay, said she bought the home in 2023 for about $82,000 after fire damage, completed repairs in 2024 at an estimated cost she described as \"not more than $30,000,\" and consistently finds current listings and market websites showing lower prices. She told the board she reviewed sales, Trulia and Zillow listings and that the assessor\fomps did not reflect local sale prices.

An assessor representative described the 2023 sale as a distressed sale recorded at salvage value and said the 2024 rehabilitation produced an \u001ceffective year built\u001d of 2011 because the property was remodeled down to the studs. The assessor said that change and square-foot adjustments justified the $165,000 fair-market valuation, noting comparable sales in 2023 and 2024 and age/quality adjustments.

Chair Miss Thompson explained the board's process and closed the public hearing without a decision, telling the owner a written notice will follow next week: \"We're gonna meet next Thursday, May 1... you will receive a letter telling you what our decision is,\" Thompson said.

Ending: The central factual dispute is whether the 2024 full remodel and the assessor's age/quality adjustments correctly reflect market value as of Dec. 31, 2024. The board will issue a written decision after its May 1 meeting.","A homeowner at 3317 Rock Creek objected to an assessor valuation of about $165,000, saying comparable listings and prior sale prices support a lower value. The assessor said the 2024 full remodel and quality adjustments justify the higher value. The board deferred the case to May 1 for a written decision.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6262811,"Homeowner disputes use of 2024 remodel sales in neighborhood revaluation; board to rule May 1",884,2563000,3447000,"/Search/View?dp=1&key=3111518-6bab85894ec6bfa82fe710896f9d123a&start=2563&end=3447","https://assets.pipeline.soar.com/3111518-6bab85894ec6bfa82fe710896f9d123a/thumbnail_2563000.jpg","/articles/6262811/Oklahoma-County/Oklahoma/Homeowner-disputes-use-of-2024-remodel-sales-in-neighborhood-revaluation-board-to-rule-May-1","https://secure.pipeline.soar.com/6262811-948c251c5da3412db0b56bdb147179cd/orig.mp4?Expires=1773603895&Signature=BT7JytvFg-83PHvlPA1BPRT3KmpxGoZ0VtFSZLrPtJmzD3my60K2O3-pmHTq87XtGCf7GGaMVZuLlTQMxGpmuGEI2~pVaebsJuq1a-OTrUYq4TzrJXY8-M9geEw6kCAEhhxNwd-0f4y74KeDbyPsBgSxkkAgIDPV9fQnpHQkxwiokFFzFkOrWRwd6D-ssIFQGJT8ucjDiu2jfS7j0PkVCVN2D~2xzAo~GSr3u8cBBmiGCB8bb4tj~nIZPaM3xcaL3sfKYG4N6ks-~c3qqH8rip2pHR-XQfPeMqsrM07tVSh-2jDPqTSw91UXb75eZ5X6vnQhtJfnHOcts5T3ZXjM0Q__&Key-Pair-Id=KUT5TJCACFTXG","A homeowner who bought his house in 2019 asked the Oklahoma County Board of Equalization to reconsider a large increase in his home's assessed fair-market value, arguing that newly remodeled sales in 2024 are not comparable to his older, unremodeled house.

Jim Nelson told the board that some comparables used by the assessor were remodeled properties and one was an unusual, \u001cglass house\u001d that he said is not representative of ordinary neighborhood stock. Nelson said his home had not been remodeled and cited differences in age, condition and lot size as reasons the assessor\fomps were not comparable.

An assessor representative said the assessor's office used sales that occurred in 2024 and 2023 and that two remodel-driven sales in the neighborhood forced a reassessment upward: \"When you got those remodels and you get those sales for those properties, that's gonna have an impact on everybody else in the neighborhood,\" the assessor said, noting county-wide increases since 2019.

The chair closed the hearing without deciding and told Nelson the board will meet May 1 to issue its written ruling: \"We will make our decision next Thursday, May 1, and you'll be notified by mail,\" Miss Thompson said.

Ending: The dispute centers on whether a remodeled sale should reset neighborhood comparables for older, unremodeled properties. The board will issue a written decision that will state which comps it treated as comparable for the valuation date.","A homeowner argued that two 2024 remodeled sales in his neighborhood are not comparable to his older, unremodeled house and should not drive a large reassessment increase. The assessor said remodels in 2024 changed neighborhood market metrics; the board deferred a decision to May 1.","actionData","errors"]

Article not found

Taxpayer and assessor clash over vacancy adjustments at French Market Mall; decision deferred

Board of Equalization approves three property valuations, schedules other appeals for May 1

Owner contests $165,000 valuation after fire repair and remodel; board to decide May 1

Homeowner disputes use of 2024 remodel sales in neighborhood revaluation; board to rule May 1