Oklahoma County BOE sets fair market value at $250,000 for 2629 Keith's Place

The Oklahoma County Board of Equalization voted to set the fair market value of property listed as BOE 69 (2629 Keith's Place) at $250,000 during a special April 2025 hearing.

The owner told the board that the property had sold about a year earlier for $250,000 and asked that the board reflect that sale in the valuation. The assessor responded that the original valuation reflected a remodeled, finished property and detailed adjustments made when comparing comparables; the assessor said, "If we were to lower it, I'm okay with going to $250,000. That's what he paid." The board then moved to set the fair market value at $250,000 and the motion was approved.

The owner argued that no significant improvements had been made since purchase and therefore a lower number was more consistent with prior trend lines. The assessor said the property had been significantly remodeled prior to the purchase and that corrected square-footage data (the MLS showed 1,585 sq. ft.; the assessor's files initially showed 1,240 sq. ft.) and finish conversions had driven the higher valuation before the reduction. The assessor explained that adjustments for "effective age" and finished garage conversion were the primary reasons the assessor's initial comps supported a higher value than the owner's comps.

The board's chair called for a motion to set fair market value. After a second and roll call votes, the board approved the motion setting the fair market value at $250,000. The board provided the owner a receipt for the hearing.

The board announced it will issue a written decision and mail the official determination to the parties; no further action on this case was reported during the meeting.