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Board of Equalization hears appeal over deed restrictions and large sign that owner says limit marketability of Midtown commercial parcel
Summary
At a June 15 BOE hearing the owners of a two‑parcel commercial site near Reno and Sooner argued deed restrictions from a 1983 lease and a large on‑site sign owned by Anony’s TV & Appliance make the land effectively unsellable and depress value; the assessor proposed a revised land valuation of $325,000 and the board scheduled a decision for Thursday.
The Board of Equalization heard an appeal on June 15 from representatives of a two‑parcel commercial property (BOE 159, account R156458050) near Reno and Sooner in Midwest City. The appellant described a decades‑old 1983 lease with a department‑store company that, they say, included restrictive covenants that "run with the land in perpetuity," limiting permissible uses and shrinking the buyer pool.
The property representative told the board the restrictions prevented the most viable uses for a hard corner — convenience store, gas station or quick‑service restaurant — and said the presence of a very large on‑site sign for the neighboring retailer "blocks the view of their building from the intersection," reducing interest from prospective buyers. The representative described previous efforts to secure releases from the current owner (Anony's TV & Appliance) and unsuccessful attempts to market the corner.
The county assessor explained how staff derived a revised informal land valuation and said the office was looking at the parcel as part of a larger economic unit; after accounting for comparable land sales, a small asphalt/improvement adjustment and the market approach, the assessor offered a revised informal valuation in the neighborhood of $325,000. The assessor emphasized the board's role in determining market value "as is" for the valuation date rather than resolving the underlying deed‑restriction legal dispute.
The property representatives said they would "consider" the assessor's revised figure but reiterated their view that deed restrictions and the oversized sign have materially reduced the parcel's marketability. The board closed the hearing and said it will make a written decision after filing and review; the Chair told parties the decision will be mailed after the board meets Thursday.
No final valuation was announced during the meeting; the board left the record open and directed staff to issue a written decision on the statutory schedule.
