Date of Death Appraisal › Baltimore County
What is a date of death appraisal?
A date of death appraisal establishes a property's fair market value as of the decedent's exact date of death, not the current date. This retrospective valuation supports probate filings, estate tax returns, and the step-up in basis for heirs. It must be prepared by a certified appraiser under USPAP to be court- and IRS-admissible.
It is the single most common estate valuation, and the one most often needed months after the fact. Whether the executor is filing an inventory, the estate is settling taxes, or heirs need the basis reset, the value has to be anchored to one specific past date — and supported well enough to survive IRS or court scrutiny.
Why the date of death, not today's value?
Federal tax law values inherited property as of the date of death, which sets the heirs' new cost basis. Using that date, rather than today's value, determines estate tax and future capital gains. The appraiser must therefore value the property using market data available on that specific past date.
How an appraiser values a property as of a past date
The appraiser identifies comparable sales that had closed on or before the date of death and analyzes market conditions as they existed then. Under USPAP, information that became known only after that date is excluded to avoid hindsight bias. The result is a documented, defensible value as of the exact effective date.
This is a retrospective appraisal — the same discipline used for divorce separation-date value and tax appeals. The craft is in setting aside everything that happened after the effective date and pricing the property exactly as the market saw it then.
Why local history matters for an old effective date
Reconstructing value as of a date years in the past is only as good as the appraiser's access to what the market actually did then. Thirty-six years appraising Baltimore City rowhouses, county subdivisions, and Harford County acreage means the comparable sales behind a date-of-death figure come from lived market memory, not just a database pull — and that's what makes the number hold up when the IRS or an heir questions it.
Can it be done months or years later?
Yes. A date of death appraisal is routinely completed well after the death, using archived comparable sales and public records from the relevant period. Executors often order it once probate begins. A certified appraiser with local market history can reconstruct the date-of-death value accurately even years afterward.
Who needs a date of death appraisal in Baltimore County?
Executors, personal representatives, estate attorneys, and heirs need a date of death appraisal to settle an estate in Baltimore County. It supports Baltimore County Register of Wills and Orphans' Court filings, federal estate tax, and the step-up in basis. A local certified appraiser ensures the value reflects the specific neighborhood and property type.
How is value set across Baltimore County's neighborhoods?
Baltimore County spans dense inner-beltway neighborhoods, established suburbs like Towson and Catonsville, and semi-rural areas to the north. A retrospective appraisal uses the comparable sales most relevant to that specific submarket as of the date of death — not a countywide average.
How much does a date of death appraisal cost?
Suburban single-family date of death appraisals in the Baltimore area generally range from $500 to $700, depending on property type, size, and complexity. Historic homes, multifamily, and hard-to-value properties may fall above that range. You receive a firm quote before any work begins.
Do I need one for a home held in a trust?
Often, yes. Property held in a revocable living trust typically receives a step-up in basis at the grantor's death, so a date-of-death valuation establishes that basis. The trustee — like a personal representative in probate — benefits from a certified retrospective appraisal to document value for beneficiaries and the IRS.
Will an estate attorney accept it?
Yes. Estate and probate attorneys throughout Baltimore County rely on certified, USPAP-compliant retrospective appraisals because they hold up with the Orphans' Court and the IRS. The report is prepared to the same standard an attorney would need if the value were ever contested.