Land office changes its appraisal process
Oklahoma land office changes its appraisal process

Gov. Brad Henry said Thursday he was offended at suggestions that a state board he sits on would sell property for less than it's worth.

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The governor is a member of the commission that oversees investments and land sold to benefit public education through the Commissioners of the Land Office.

"We seek to get the highest return,” Henry said. "What we've been doing is ensuring that the process is fair and legal. For anyone to suggest that this commission is in any way trying to take away from that is wholly inaccurate, false and offensive to me.”

Henry made the remarks after Thursday's meeting in which commission members voted to hire outside appraisers to set the value of land owned by the commission.

The issue first arose in May when commissioners tabled a motion to sell 206 acres near Deer Creek High School to allow attorneys for a prospective buyer to appraise the land.

In July, the prospective buyer, James Burgess III, and his attorney argued that the land had been overvalued and that Burgess' appraisers set the value at $9,000 an acre. During an August meeting, commissioners requested a legal study on how the appraisal process should work.

Also during that meeting, the commission agreed to hire outside, non-staff appraisers to set the land value.

The land is between NW 206 and NW 220 and between Rockwell Avenue and MacArthur Boulevard.

"We have a fiduciary duty to seek the highest bid,” Henry said. "I think we're within our rights, and we can set the value and get the highest value that we can. We don't want to leave money on the table.”

Commissioners also clarified the appraisal process and approved hiring independent appraisers to determine value before the office put land up for sale.

The cost of hiring outside appraisers would be passed on to the buyer, Burrage said.

The move comes after an advice letter from an assistant attorney general that said the commission was not following guidelines. In the past, two staff appraisers valued land separately and a third staff appraiser reviews the reports and sets a final amount. Now, outside appraisers will assess the value, and the commission will determine the minimum amount for the bids.

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