My state taxes inherited out of state real property at an absurd rate (I wanna say 20%, might be 15, in any case, that's a big chunk of change).

In practice it's just a big f you to anyone who's parents live out of state and die owning their home and didn't have the foresight to put it in trust or sign it over to the kid(s) prior to dying.

There is no justifiable purpose for this tax other than revenue. Property out of state has zero cost to the people of the state. It's a pure money grab and it's only affecting the middle class (because anyone who can justify the cost of estate planning will not be subject to this tax).

Edit: I'd be curious to see why people find this comment so disagreeable? Or is it just ideologically inconvenient to point this stuff out?

> There is no justifiable purpose for this tax other than revenue.

Isn’t this the alleged purpose for all taxes?

Where did you get that number? As the executor of my father's estate, I can attest to paying taxes based on a much lower threshold.

It doubled a couple years ago, which was temporary, so will halve in a few years time. That will catch people unaware.

2020/2021 are good years to die, tax wise. Covid19 is doing the taxpayers a solid.

:-/

Gp is talking about at the federal level, where that is indeed the number. You probably had to pay state taxes, those have much lower limits in some states.