Retrospective Appraisals Explained on Long Island: Date-of-Death & Prior Value Guide
dmaappraisers.com Retrospective Appraisals Explained (Date-of-Death & Prior Value) When most people think of a real estate appraisal, they picture a current market value used for a purchase or refinance. But in many legal, tax, and estate situations, the value that matters most isn’t today’s; it’s the property’s value at a specific point in the past. That’s where a retrospective appraisal comes in. A retrospective appraisal determines the market value of a property as of a prior effective date. These assignments are most commonly used for estate settlement, IRS reporting, tax appeals, divorce proceedings, and litigation. On Long Island, retrospective appraisals are frequently requested for date-of-death valuations, capital gains calculations, and other legal matters ...
