Cleveland County Equalization Board Special Meeting – July 10, 2026
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Cleveland County Equalization Board Special Meeting – July 10, 2026
The Cleveland County Equalization Board held a special meeting on July 10, 2026, at 10:00 AM in Norman, OK. Board members present included Chairman Chuck R. Thompson, Vice-Chairman Josh Edge, and Member John Wullich. The meeting addressed nine agenda items: approval of prior minutes, eight formal appeals and letters of protest concerning commercial and residential property valuations, and board member statements.
Consent Calendar
- Approval of Minutes: The board unanimously approved the minutes from the June 18, 2026 meeting.
Discussion Items
Item 2 – 100 12th Ave NE (Walgreens, account #96402)
Appellant Alexander Jury (Elias Books Brown and Mountain Wall) represented the Ulan Family Limited Partnership. He argued the property’s $3 million assessed value should be reduced to $2.5 million, citing comparable Walgreens in Cleveland County averaging $165/sq ft ($2.49M) and settled values in Tulsa at $171/sq ft ($2.57M). The assessor’s office presented sales and income approaches supporting the $3M value, noting the property was adjusted from $3.5M to $3M in a 2025 settlement. After discussion, the board found the appellant’s comps compelling and set the value at $2.6 million.
Item 3 – 615 W Main Street (Walgreens, account #25535)
The same appellant reiterated similar arguments, proposing a value around $2.5 million. The assessor reported a current market value of $3.5 million (down from $6M after a 2025 settlement) and presented a 2022 sale of $8M (including business value). The assessor argued the property’s location and recent sale supported the higher value. The board voted to retain the $3.5 million valuation.
Item 4 – 2539 W Main Street (strip center, account #23500)
Appellant Brittany Dowd presented an income approach valuing the property at $1,695,657, using actual financials and an 8% cap rate. The assessor’s value was $2,194,000 (down from $2,417,000 in 2025), supported by sales comparisons and an income approach at $30/sq ft. The board voted to retain the assessed value of $2,194,000.
Item 5 – 2576 W Tecumseh Road (mini storage, account #176228)
Appellant Brittany Dowd argued for a $3,288,000 value based on actual income and expenses, noting an oversaturated market. The assessor’s value was $4,027,601 (adjusted by the board in 2025 from $4,463,500). The assessor presented sales and income approaches (with 12% vacancy) supporting the current value. The board voted to retain the $4,027,601 valuation.
Item 6 – 2900 SW 134th St, Oklahoma City (Walmart Neighborhood Market, account #185712)
Appellant Brittany Dowd argued for a reduction to about $4.2 million based on equity comps in Cleveland County and statewide, noting that other neighborhood markets were assessed at $102–$106/sq ft. The assessor’s value was $5,052,000 ($118/sq ft), previously reduced from $7.8 million in a 2025 settlement. After discussion, the board set the value at $4,799,872 (approximately $112/sq ft).
Item 7 – 13503 S Santa Fe Ave, Oklahoma City (Walmart Neighborhood Market, account #185962)
The appellant made the same argument as for item 6. The board set the value at $4,778,928, based on the same rationale.
Item 8 – 9501 S I35 Service Road (OK Villas At Countryside LLC, account #53912)
The assessor and appellant had reached an agreed value of $4,250,000. The board accepted the agreement unanimously.
Item 9 – 4004 Kent Street, Norman (James K & Marva L Harrison, account #25209)
An agreed value of $234,703 was presented. The board accepted the agreement unanimously.
Key Outcomes
- Approval of Minutes: Approved.
- Item 2: Value set at $2,600,000 (motion by Thompson, seconded by Edge, all in favor).
- Item 3: Value retained at $3,500,000 (motion by Edge, seconded by Wullich, all in favor).
- Item 4: Value retained at $2,194,000 (motion to affirm, seconded, all in favor).
- Item 5: Value retained at $4,027,601 (motion by Edge, seconded by Wullich, all in favor).
- Item 6: Value set at $4,799,872 (motion by Thompson, seconded by Edge, all in favor).
- Item 7: Value set at $4,778,928 (motion by Thompson, seconded by Edge, all in favor).
- Item 8: Accepted agreed value of $4,250,000 (motion to accept, seconded, all in favor).
- Item 9: Accepted agreed value of $234,703 (motion to accept, seconded, all in favor).
All votes were unanimous with no opposition. The meeting adjourned after the board completed all agenda items.
Meeting Transcript
So this agenda action means any following amending approving approving is amended, deferring, etc. Uh on commit the items. So we'll start off with item one, which is the approval of the minutes. The minutes have been previously distributed. Yes. Yes. All right, thank you. On to our items of business. Um we have items one through seven. I'm sorry, two through seven, and it will take them one at a time. If we have questions, and then if you have questions for each other, we'll have a little moment for that, and then we'll take all that into advisory and plan on making the decision today. If you've got something you want us to look at, yeah, we got a lot of things. No, okay. Okay, let's let's if you don't mind then let's start with 112th Avenue more keys. Okay. And then um what I'm handing out right now, I'd like to note those cover both properties. But I'll just focus on the first one. Thank you. Okay. Come on. Thank you. Yeah. If you're if you're easier than mine, it's nine. Yeah. Yes, Walgreens. Um yes, this one's the one on 12th Street. Okay. Okay. Well, my name is Alexander Jury. Um, and I'm here um on behalf of them partnership LLP, which is Walgreens as a tenant, um, and I'm with Elias Books Brown and Mountain Wall from Oklahoma City. Um, thank you guys for your time and for listening to this. Um, so getting started, um, we do understand that the assessor is tasked with a very hefty job value properties here, and we do think that the assessor does a really great job at doing that accurately. Um, but we do think that there are some properties that should be looked at um the second time or looked at just a little bit and deeper, and these are two properties we believe should be looked at again. Um so we asserted on our 974 and uh 976 about 2 million or um and we feel like we have um sufficient evidence that would support that. We essentially looked at the Walgreens that are uh in Cleveland County as well that we didn't protest there are three um in Cleveland, and we also looked at the Walgreens in Oklahoma and Tulsa County that we set up with the assessors, pulled their values and kind of looked at those comps um and applied it to uh these well this property, the one on 12th Street. Um so looking at this document that I passed out the Excel sheet with the chart, um the Cleveland County, yes, the Cleveland County Walgreens at the top, they average a fair cash value of about 2.4 million, which roughly translates to 165 dollars a square foot. Um as you can see the UN property um about approximately the same time year built, um same square footage, same style, walgreens all pretty much look the same. Um and it's at the three million figure right now. If you were to take the 165 per square foot that all the other Walgreens in Cleveland County have, the value of this property here would be about 2.49, right up right below 2.5 million, and we feel like that's a pretty reflective indicator of what this value should be. Um you look at the second page of that, the Walgreens and Tulsa values that were settled. Um settled price per square foot was 171, so a little bit higher than the Cleveland, and if you use that value to calculate what we want to based on the square footage would be, it would be about 2.57 million. So we kind of use these comps um to arrive at our value. We also then looked at rental comps of other Walgreens properties, and that's gonna be in the packet that I passed out, and that we attach when we protested these um on the 97496. But if you look at the uh rental rates, the average fair market value is approximately 1.8 million, so again, significantly lower than the three million, and we feel like these are great indicators of what the value should be of what a willing buyer would pay a willing seller for this property. Does that conclude your yes? Okay, thank you. So are you stating a number that you have? So we originally asserted the two million dollar number, and while we do believe that is uh a good indicator, after doing all the calculations and seeing that other Walgreens in Cleveland are approximately 2.5 and Oklahoma and Tulsa were settling again around 2.5. Um we are now um asserting the 2.5 million dollar figure for this value or for this property. So um we normally have some that says okay.
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