Laura Stone and assessor agree to $420,000 value for Lincoln Terrace home, contingent on photos

The Oklahoma County Board of Equalization accepted a mutually agreed valuation of $420,000 Monday for a Lincoln Terrace property after the owner and the assessor negotiated a resolution during the appeal.

Laura Stone, the appellant, told the board she demolished and rebuilt a garage and that the accessory apartment above the garage remained under construction and not yet livable on Jan. 1. "It does have a bigger footprint than the previous garage," Stone said, and she argued many of the comparables used by the assessor included interior remodels her house lacks.

The assessor reviewed permit and occupancy status and said that when the unfinished accessory unit is excluded the calculation came to $424,420. The assessor offered that figure and asked whether the appellant would accept it; Stone and the board negotiated to round the figure to $420,000 by mutual agreement.

The agreement is contingent on Stone providing dated interior photos or other proof that the accessory portion was not complete and not livable as of Dec. 31. The assessor's office said it will mark the accessory unit as "under construction" until staff can confirm final permit completion and will reactivate a permit inspection when the unit is finished.

Board action: By mutual agreement the board set the property’s fair market value at $420,000 and closed the hearing.

What happens next: Stone will submit dated interior photos to the assessor’s staff to document the Jan. 1 status; the assessor will confirm completeness before changing the classification from "under construction."