Appraiser challenges county's square foot valuation amid property sales debate

The Oklahoma County Board of Equalization held a special meeting on May 28, 2025, to discuss property valuation concerns raised by local stakeholders. A significant focus of the meeting was the assessment of property values, particularly the increase from the previous year.

During the discussions, one participant highlighted that the county's assessed value had risen to approximately $83 per square foot, a notable increase from the prior year's valuation of around $61 per square foot. This participant expressed skepticism about the justification for such a steep rise, pointing out that recent sales data indicated values closer to $40.50 per square foot. They argued that while some increase in property value was expected, the jump to $83 seemed excessive and not reflective of the market.

The participant further suggested that a more conservative estimate would place the property value around $3.4 million, rather than the higher figures proposed by the appraisal department. They emphasized the importance of fairness in the valuation process and noted that the appraisal department's increase of nearly $1 million, or 40%, in just one year appeared unjustified.

Additionally, the participant provided evidence from recent sales, including detailed reports and photographs, to support their claims. They pointed out that while adjustments for age and land quality were made, the overall quality of the properties being compared should also be considered. The discussion underscored the complexities involved in property valuation and the need for careful consideration of market conditions.

The meeting concluded with a commitment to further review the data and ensure that property valuations remain fair and reflective of actual market conditions. The board's next steps will likely involve a thorough examination of the sales data presented and a reevaluation of the current assessment practices.