Tax assessment appraisals in Salt Lake City, UT

Tax assessment appraisals for step up basis is a smart strategy for minimizing capital gains taxes for heirs that inherit real property assets from property owners. Step-up in basis resets the cost basis of an appreciated inherited asset for tax purposes.



·     The cost basis for heirs is raised to the asset's market value on the prior owner's date of death, reducing future capital gains taxes.

·     Residents of states with community property laws or those with assets in community property trusts qualify for a step-up in basis on community property for the surviving spouse.

·     Because the benefits of the step-up basis mostly accrue to the wealthiest households, opponents have tried to limit or eliminate the provision in recent years, without success.

Tax assessment appraisals for estate tax planning appraisals

For estate planning, real estate tax assessment appraisers provide an estimated value of real property assets. The knowledge to potential heirs is essential for heirs of properties and assets that need to be gifted or divided after death. Tracking real estate increases and declines is vital in determining the increase and possible decline for growth and loss margins.

·      Gifting real estate

·      Evaluating growth and loss margins

·      Strategic estate planning

Tax assessment appraisals for tax appeals

Professional tax assessment appraisers can provide the necessary analysis required by county assessor’s offices to appeal your property tax assessment. Selecting the correct comparable sales, applying reasonable adjustments, etc. will lend credibility for your appeal. Tax appeals are another tax strategy to limit the amount of taxes you are paying as a property owner.

·     Use a tax assessment appraiser that is honest with you regarding the cost-savings of appealing your taxes.

·     There are other potential benefits to appealing tax assessments that will be explained based on your individual circumstances.