Quote:
Originally Posted by fotze
Thats all lovely, but rules are rules. Taxes are based on home value (or some bizarre interpretation of home value) not on back story.
Also, the homes that are being sold for $3.8MM but are assessed at $2.5MM are probably not the homesteaders from yesteryear, unless they had 6,500 sq ft mansions with granite evertything, theatre rooms and Wolfe appliances back in the day.
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OK I get it. rules are rules, as you say. I just wanted to show that there are two sides to the matter. As far as inheritances are concerned, don't forget you will be old some day, and you may want to leave something for a child who suffers financially for whatever reason, health or otherwise. And a million dollars seems like a lot, but it can also go pretty quickly, particularly if there are serious health or disability issues involved.