Appraisals starting at $425

014-469-5946

New York, Westchester County, Bronx County and Beyond - Date of Death and Estate Valuations

New York Estate tax liability. Disposition of assets under a will or in probate in New York. There are many situations -- none of them lacking stress and complexity -- where you might need a New York appraisal of property that states an opinion of what the property was worth on a date some time ago, rather than when the appraisal is ordered. For estate tax purposes or disposition of the assets of a decedent, a "date of death" valuation is often required. Sometimes, the New York executor of the estate or New York Attorney may choose to have the date of the New York appraisal be six months after the date of death or on the date of death -- but the same principles apply in determining the market value of the real estate.

A Date of Death appraisal establishes the fair market value of real property as of the exact date an individual passed away. This valuation is critical because it becomes the legal baseline used for estate administration, probate proceedings, and tax reporting. Unlike a current market appraisal, a date of death appraisal often reflects historical market conditions, comparable sales, and economic factors that existed at that specific moment in time.

One of the primary reasons a date of death appraisal is required is for estate tax and income tax purposes. The IRS allows heirs to “step up” the tax basis of inherited property to its fair market value on the date of death, which can significantly reduce future capital gains taxes when the property is sold. An accurate, well-supported appraisal helps protect beneficiaries from overpaying taxes and ensures compliance with IRS and state tax authorities.

Date of death appraisals are also frequently required for New York probate court filings, trust administration, and equitable distribution among heirs. When multiple beneficiaries are involved, a credible retrospective valuation provides an objective foundation for fair decision-making and helps prevent disputes. Courts, attorneys, and fiduciaries rely on professionally prepared appraisals that meet USPAP standards and can withstand legal scrutiny.

Finally, a properly documented date of death appraisal offers long-term protection. Estates may be reviewed or audited years after the valuation date, making it essential that the appraisal clearly explains the methodology, data sources, and reasoning behind the value conclusion. A thorough appraisal not only satisfies immediate legal requirements but also provides peace of mind by standing up to future questions from taxing authorities, courts, or beneficiaries.

You need a professional State of New York real estate appraiser, bound by the Uniform Standards of Professional Appraisal Practice (USPAP) for a high degree of confidentiality and professionalism, and you need the kind of quality report and work product that the taxing authorities, attorneys, accountants and courts need and expect. 

Please browse our website to learn more about our qualifications, expertise and services offered.

We are a New York Real Estate Appraisal and Home Inspection Company. We have Manhattan Appraisers, Bronx Appraisers, Queens Appraisers, Brooklyn Appraisers, Staten Island Appraisers, Westchester County Appraisers, Nassau County Appraisers, Suffolk County Appraisers, Putnam County Appraisers, Orange County Appraisers, Rockland County Appraisers and Dutchess County Appraisrs.

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If you are in the need for Bronx Real Estate Appraisers, Brooklyn Real Estate Appraisers, Queens Real Estate Appraiser, New York City Real Estate Appraisers, Staten Island Real Estate Appraisers, Westchester County Real Estate Appraisers, Rockland County Real Estate Appraisers, Putnam County Real Estate Appraisers, Albany Real Estate Appraisers, Nassau County Real Estate Appraisers or Suffolk County Real Estate Appraisers we are your number one choice.

Greco Appraisal Services looks forward to assisting you with all of your real estate appraisal needs.

Call our office at 914-469-5946. You can also order your next appraisal online by using this website.