Category: Property Tax Strategies

Understanding New York Land Inheritance- The Stepped-Up Basis Explained

New York Land Inheritance: The Stepped-Up Basis Explained

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When inheriting land in New York, understanding the concept of stepped-up basis is crucial. This can have significant implications for tax purposes and the future sale of the property. In this blog post, we will delve into the intricacies of stepped-up basis, providing a clear explanation to ensure you have a comprehensive understanding of how … Continued
Understanding Property Tax Assessments in New York State: A Comprehensive Guide

Understanding Property Tax Assessments in New York State: A Comprehensive Guide

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Understanding property tax assessments in New York State is crucial for homeowners and property investors alike. Assessing a property involves determining its market value, which can be estimated using various approaches. These approaches include the market approach, cost approach, and income approach, each tailored to different property types. Once the market value is determined, the … Continued