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Equalization Board upholds York Luxaire valuation amid ongoing litigation
Summary
The Cleveland County Equalization Board unanimously upheld the assessor's $64,568,471 market value for the York Luxaire (Johnson Controls) property at 5005 York Drive, citing ongoing litigation and assessor analysis.
The Cleveland County Equalization Board on July 24 unanimously voted to uphold the assessor's 2025 market value of $64,568,471 for the York Luxaire property (5005 York Drive), a roughly 934,000-square-foot industrial facility.
On a telephone conference, representative Chris Pheneger presented five comparable sales and a history of phased construction dating to 1971 with major additions through 2017. Pheneger noted challenges finding same-scale local sales and offered out-of-area comparables. JD Reed, speaking for county staff, described the assessor's blended analyses, including an adjusted-sales average of about $67 per square foot and an income-based estimate near $65'$68 per square foot. Reed advised the board to "defer to the assessor's value until a court ruling indicates otherwise" because the property's valuation is under appeal.
The board's motion to uphold the current valuation, moved by Josh Edge and seconded by John Wullich, passed 3'0'00 with votes recorded as Chuck Thompson, yes; Josh Edge, yes; John Wullich, yes. The board noted it maintains current assessments for properties involved in active litigation and will adjust values if directed by a final court decision.
Chairman Chuck R. Thompson thanked the representative after the vote. The board's action leaves the assessor's 2025 taxable value unchanged pending the outcome of the court appeal.
