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Agent disputes assessor sales comps for several apartment and storage property appeals; BOE delays rulings
Summary
Representative Casey Tier presented a 2024 appraisal and year-end income analyses that produced lower values than the assessor’s sales-weighted valuations for multiple apartment and storage properties; the assessor favored recent sales and market-parameter income approaches; the BOE deferred decisions to its scheduled decision meeting.
At the June 17 Oklahoma County Board of Equalization teleconference, agent Casey Tier represented multiple property owners in appeals alleging the assessor’s sales-comparison adjustments were excessive and dated, and urging greater weight for income-based valuation and a recent third-party appraisal.
For the property at 1919 East Second Street in Edmond (row number 189236000), Tier said an appraisal completed Nov. 1, 2024 and finalized Dec. 12, 2024 valued the property at $28,500,000. Tier provided a year-end 2024 income workup showing a pro forma income-based value of $28,500,000 and argued…
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