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Assessor cannot verify May 2024 sale for 5905 Gaelic Glen Drive; BOE hearing deferred
Summary
An appellant said the property at 5905 Gaelic Glen Drive sold in May 2024 for $270,000 and asked that the sale control valuation. The Assessor's Office said it could not verify an MLS listing and therefore could not accept the sale as an arms-length transaction; the board closed the hearing and will decide Friday.
A property owner appealing the valuation for BOE 76 (5905 Gaelic Glen Drive) told the Oklahoma County Board of Equalization that the parcel sold in May 2024 for $270,000 and asked that the assessor recognize the sale price as the fair market value.
The Assessor's Office told the board it could not verify the sale on MLS or other public listings and therefore could not treat it as an arms-length, verifiable sale. The assessor said: "We have no way of verifying the sale. So there's not an MLS listing. We sent 2 letters and never received a response... that is why we are not looking at the sale as an arms-length transaction." The assessor also explained the account covers two duplex units and that comparable sales in the area rarely include both units on one parcel, which complicates adjustments.
The appellant said the May 2024 transaction was negotiated off-market through a personal contact (the appellant's mother is a realtor) and provided closing documents; the assessor said doc stamps show a transfer amount but staff could not find an MLS listing and therefore treated the sale with caution. The assessor said the office reduced the initial assessment on informal appeal but could not accept the sale without verification.
The board closed the hearing and said it will make a decision on Friday and mail the written determination to the parties. No final vote or change to the record was recorded at the meeting.
