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Both procedures must be considered separately from a legal standpoint, as different valuation bases apply. However, successfully demonstrating a lower value in one procedure can serve as supporting argumentation in the other procedure.
Read moreIf a property is bequeathed to a specific person, the full market value of the property as of the date of death remains decisive for inheritance tax purposes, regardless of whether the legatee is also an heir.
Read moreFor commercial enterprises with real estate assets, a distinction is made between the actual business value and the real estate assets contained within it, whereby special inheritance tax relief provisions may apply to operating properties.
Read moreIn the event of inheritance, condominium units are valued analogously to houses using the standardized procedures of the Valuation Act (Bewertungsgesetz), usually via the sales comparison approach, provided sufficient comparable data for similar units is available.
Read moreUnder the community of accrued gains regime, the surviving spouse's notional claim to equalization of accrued gains remains exempt from inheritance tax, which correspondingly reduces the taxable estate value. Under separation of property, this benefit does not apply at all.
Read moreIf a spouse living in a community of accrued gains passes away, the surviving spouse receives a flat-rate quarter of the estate in addition to the statutory inheritance share as a so-called matrimonial property law equalisation of accrued gains, which reduces the value of the remaining estate.
Read moreA notional co-ownership share is generally derived proportionally from the overall value of the property. Since co-ownership shares are only tradable to a limited extent, an additional market discount is sometimes discussed in practice, though it is usually not recognized for tax purposes.
Read moreEven where the decedent died abroad, the valuation of a German property is governed by German valuation law. For foreign properties in the estate, however, the valuation principles of the respective country of location apply.
Read moreA purchase price achieved shortly before the inheritance occurred can be used by the tax office as strong evidence of the actual market value, thereby displacing the standardized valuation in the individual case.
Read moreThe tax assessment valuation (Bedarfsbewertung) is the standardised procedure automatically applied by the tax office to determine the property value for inheritance and gift tax purposes. It does not replace an individual market value appraisal, but can be rebutted by one.
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