Date of Death appraisal Services in Citrus Heights
Citrus Heights Date of Death Home Appraisal
When a loved one passes, settling their estate can feel overwhelming. One important step in that process is determining the accurate value of any real estate they owned. This valuation is necessary for estate settlement, inheritance planning, and tax reporting. At Sactown Appraisals, we provide professional Date of Death (DOD) appraisals in Citrus Heights and surrounding communities. Our reports are IRS-compliant, defensible, and delivered with compassion and understanding — because we know this process often comes at an emotional time.
We Understand Every Situation Can Be
Unique
We know that not every property is perfectly maintained. Sometimes, loved ones may have struggled with upkeep or hoarding, or the home may have years of deferred maintenance. At Sactown Appraisals, we approach every home with compassion and without judgment.
What is a Date of Death Appraisal
A Date of Death appraisal determines the Citrus Heights Fair Market Value (FMV) of a property as of the date the property owner passed away. It’s a retrospective appraisal, meaning we establish what the property was worth on a past date, not what it’s worth today.
Estate tax filings
To to determine if a federal or state return is needed
Inheritance planning
To establish a “stepped-up basis” for heirs and reduce capital gains taxes
Fair estate distribution
To divide property value accurately among beneficiaries
Understanding the Stepped-Up Basis for Inherited Homes in Citrus Heights
The IRS has published an excellent page answering. Frequently Asked Questions on Estate Taxes
When you inherit a home in the IRS allows something called a stepped-up basis—a rule that resets the property’s tax basis to its fair market value (FMV) as of the date of the original owner’s death. While this rule can significantly reduce taxes on past appreciation, you may still owe capital gains tax if the home’s value increases after you inherit it and you later decide to sell.
01
Example:
Your parents bought their home for $75,000 years ago. When they pass away, the home’s fair market value at the date of death is $450,000. That $450,000 becomes your stepped-up basis—the value is your starting point for calculating capital gains when you decide to sell the home later.
02
Pay No Capital Gains Tax
If you sell the home away for $450,000 or less, you owe no capital gains tax, because the sale price matches the stepped-up value.
03
When Owe Taxes
However, if you keep the home for a few years and later sell it for $550,000, you’ll owe capital gains tax on the $100,000 increase in value since inheritance.
Serving Citrus Heights and Nearby Areas!
Providing expert real estate appraisal services in Citrus Heights, CA, with deep knowledge of local neighborhoods like Sunrise Ranch, Sylvan Meadows, Greenback Woods, and Mariposa Grove. I offer accurate, reliable valuations backed by experience and familiarity with key areas such as Rusch Park, Sunrise Marketplace, and Arcade Creek Park Preserve.
Why Citrus Heights Residents Trust Sactown Appraisals
We specialized DOD estate settlement appraisals tailored for the Citrus Heights area. Choosing us ensures:
- Accurate, IRS-compliant valuations
- Defensible reports for attorneys and tax authorities
- Expertise in residential real estate and local market trends
- Timely, reliable service for executors and heirs
- Knowledge of Citrus Heights market trends
- Compliance with IRS real estate valuation regulations
- Clear, understandable reports for executors, attorneys, and heirs
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