When the value applies
The effective date is the day being valued. It can be different from the day you order the appraisal or the day the appraiser visits.
INHERITED HOMES · ALLENTOWN, PA
What was the home worth on that date?
IRS step-up and date-of-death appraisals for inherited homes in Allentown.
For an inherited Allentown home, a retrospective appraisal looks back to the date your tax adviser identifies.
Read the IRS guidance on inherited-property basis; ask your tax adviser which date applies.
The Appraising Group Allentown · 3300 Lehigh St, Allentown, PA 18103
Office hours: Monday–Friday, 9 AM–5 PM
A past value needs
past evidence.
The inspection may happen now. The value may be needed for a date months or years ago. The report considers the home’s condition then and comparable sales from that period.
If you have already renovated or cleared the house, say so. Older photos, listings and repair records can help explain what has changed.
WHAT THE APPRAISAL LOOKS AT
One home.
One point in time.
The house as it was
Changes to the roof, kitchen, layout or condition matter. Share what you know about the home at the time, including repairs made afterward.
Sales from that period
The research looks at comparable properties around the effective date. Today’s asking prices or a citywide price change cannot establish that home’s earlier value.
BEFORE YOU REQUEST A QUOTE
You don’t need
every answer yet.
Start with the address and the date you have been given. These details help define the assignment and the records it may need:
- The date of death or other date selected by your adviser.
- Why the report is needed and who will rely on it.
- Older photos, listings, inspection reports or repair invoices, if available.
- Changes to the home since that date.
- Access arrangements and any filing or closing deadline.
Fees and delivery depend on the property, the date being researched, available records and access. Request a written scope, fee and delivery estimate for your assignment.
QUESTIONS ABOUT AN INHERITED HOME
The date comes first.
Why is it called a “step-up” appraisal?
The IRS says inherited property’s basis is generally its fair market value on the date of death, or an alternate valuation date when properly elected by the executor. The appraisal provides a value for the requested date. Your tax adviser determines how it applies to your basis and filing.
Does the appraisal guarantee a tax saving?
No. “Step-up” is shorthand, not a promise. The appraisal addresses the property’s value on an effective date; it does not determine your tax treatment or guarantee acceptance by a tax authority.
What if the home has already been renovated?
Tell us what changed and when. Dated photographs, an older listing, inspection reports and invoices can help document its earlier condition. The appraiser considers the available evidence and explains the report’s assumptions and limitations.
Can one report serve estate, probate and basis needs?
Sometimes a single date-of-death value can serve more than one purpose. Discuss the intended uses and users with your adviser and the appraiser before ordering; different dates or requirements may call for a different scope.
How much does a retrospective appraisal cost?
A private appraisal fee is not published here. Ask for a written quote for your property and date. Share the property address, effective date, intended use and deadline to request a written fee and delivery estimate.
Tax background: IRS guidance on inherited property and basis. Ask your attorney or tax adviser which date and reporting requirements apply to you. This page is general information, not tax advice.
LET’S START WITH THE ADDRESS
Talk through the home
and the date you need.
Share what you know. Ask about the scope,
available timing and a written quote.
(610) 798-1017Request a retrospective appraisal quote →
The Appraising Group Allentown
3300 Lehigh St
Allentown, PA 18103