Can I use the county tax-assessed value as basis?

It's a fallback, not best practice. Assessed values often lag market values by 20–40% in either direction. A retrospective appraisal is more accurate and more defensible.

Date-of-Death Valuation Without an Appraisal — Heir's Guide

No Date-of-Death Appraisal? Here's How to Document Basis

If no appraisal was ordered at the time of the original owner's death, heirs can still establish a stepped-up basis using a retrospective appraisal (the gold standard), a broker price opinion from a licensed agent, or — least preferred — a documented combination of county assessor records and comparable sales from the relevant date.

Written by the Inherited Home Buyers editorial team· Reviewed by Editorial Tax Reviewer (Placeholder) (CPA)· Last updated 2026-05-25

Order a retrospective appraisal

A licensed appraiser produces a written appraisal dated to the death, using comparable sales from that window. Cost: typically $400–$700. Result: an IRS-acceptable basis number with full documentation. This is the right answer for almost every estate.

Broker price opinion (BPO)

A licensed real estate agent prepares a written opinion of value as of the death date. Less rigorous than an appraisal but still defensible if comparable sales are clearly documented. Cost: often free if you list with the agent later.

Self-prepared basis estimate

Combine the county assessor's tax-assessed value for the death year (publicly available) with recent sales of nearby comparable homes. Acceptable for very small estates with low audit risk, but a real appraisal beats it every time.

Sources

IRS Topic 703 — Basis of Assets

Frequently asked questions

Order a retrospective appraisal from a licensed appraiser. The written report establishes the basis number the IRS will accept.

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Related guides

Step-Up in Basis Explained

This page is for general educational purposes only and is not tax advice. Tax outcomes depend on your specific facts and the year of the transaction. Always confirm with a licensed CPA or tax attorney before making decisions.