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BOE reviews valuation methods in two Crunch Fitness property appeals; decisions deferred
Summary
Agent Blair Princi told the Oklahoma County BOE that income-capitalization and purchase-plus-improvement methods support lower values than the assessor’s figures on two commercial gym properties; the assessor defended its income and sales-based analyses; the BOE deferred rulings to a later decision meeting.
At a June 17 teleconference, the Board of Equalization of Oklahoma County heard appeals for two commercial properties occupied by Crunch Fitness, where the parties disputed whether fair market value should be based on the recent purchase price plus documented improvements or on an income-capitalization approach.
Blair Princi, who identified herself as the agent for the owner, told the three-member board that for BOE case 145 (8400 Northwest Expressway) the purchase price in March 2024 was $3,025,000 and county records show roughly $1.2 million of improvements. Princi said she combined the purchase-plus-improvement total and an income…
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