Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Commercial Valuation topic
No spam. Unsubscribe anytime.
Dealership owners dispute county land revaluation after assessor’s upward land adjustments
Summary
Owners and agents for multiple Broadway Extension car‑dealership parcels (including Bob Howard Nissan and Bob Howard used cars) argued cost‑based valuations and recent dealership sales support lower values; the assessor cited a countywide land 'rebound,' used Marshall & Swift cost inputs and left informal hearing values unchanged. Board deferred final decisions until Friday.
Several commercial property appeals involving car dealerships on or near Broadway Extension were heard May 27 by the Oklahoma County Board of Equalization, including parcels owned or represented by Bob Howard interests.
Agent representatives presented detailed cost breakdowns, reconstructions and dealer‑specific comps and requested significantly lower values than the assessor’s notices. For one parcel the agent requested $3,251,759 (about $102 per sq ft on roughly 31,912 sq ft of improvements). For another Bob Howard parcel the agent requested about $4.29M. Agents asked the board for copies of evidence and said some supporting exhibits had not been received by the board at the hearing.
The assessor described a countywide land "rebound" that prompted upward adjustments to land values this cycle and said the county capped some land increases; the assessor also said Marshall & Swift guidelines and field appraiser quality ratings (average vs. average‑plus) produced different cost figures. On the Nissan/Dodge parcel the assessor said recent unadjusted dealership sales indicated $200–$212 per square foot in 2023–24 and that their cost approach (including sprinklers, AC for showroom and service‑garage finish adjustments) produced an indicated value near $4.66M (the assessor’s informal agreed value). "I don't think I've ever seen a car dealership valued on an income approach," the assessor said, noting the county prefers a cost approach for dealerships.
Board members asked for the addresses and sale years for comps and suggested visibility, access and thoroughfare classification (Broadway Extension vs. Northwest Expressway) affect land adjustments. The hearings concluded without final votes; the board will issue decisions Friday and notify parties by mail and email.
