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Homeowner disputes use of 2024 remodel sales in neighborhood revaluation; board to rule May 1
Summary
A homeowner argued that two 2024 remodeled sales in his neighborhood are not comparable to his older, unremodeled house and should not drive a large reassessment increase. The assessor said remodels in 2024 changed neighborhood market metrics; the board deferred a decision to May 1.
A homeowner who bought his house in 2019 asked the Oklahoma County Board of Equalization to reconsider a large increase in his home's assessed fair-market value, arguing that newly remodeled sales in 2024 are not comparable to his older, unremodeled house.
Jim Nelson told the board that some comparables used by the assessor were remodeled properties and one was an unusual, —glass house— that he said is not representative of ordinary neighborhood stock. Nelson said his home had not been remodeled and cited differences in age, condition and lot size as reasons the assessor—omps were not comparable.
An assessor representative said the assessor's office used sales that occurred in 2024 and 2023 and that two remodel-driven sales in the neighborhood forced a reassessment upward: "When you got those remodels and you get those sales for those properties, that's gonna have an impact on everybody else in the neighborhood," the assessor said, noting county-wide increases since 2019.
The chair closed the hearing without deciding and told Nelson the board will meet May 1 to issue its written ruling: "We will make our decision next Thursday, May 1, and you'll be notified by mail," Miss Thompson said.
Ending: The dispute centers on whether a remodeled sale should reset neighborhood comparables for older, unremodeled properties. The board will issue a written decision that will state which comps it treated as comparable for the valuation date.
