Great column from broker David Chapman in the Journal Record on the impact of off-market transactions to the real estate market. A growing number of real estate transactions are happening outside the traditional public sales process, including off-market deals and transfers through LLCs, partnerships, and trusts.
While these ownership structures are legal and can offer privacy and financial benefits, they can also make it harder for county assessors to determine accurate property values. When sales prices remain hidden, assessors have fewer comparable transactions to use, potentially affecting how fairly property taxes are distributed. Oklahoma remains a disclosure state, but entity sales can still create gaps in available market data. As these transactions become more common, transparency could become an increasingly important issue for Oklahoma homeowners and the property tax system.