Miami estate-tax appraisal work establishes supported real estate values for personal representatives, trustees, and tax advisers administering an estate. Florida has no estate tax for deaths after December 31, 2004, but federal estate-tax reporting and inherited-property basis can still make a date-of-death valuation important in 2026.

Why this matters for Miami property owners and heirs

A Miami condominium can be part of an estate even when the personal representative lives in another state or country. A lack of Florida estate tax does not establish that no federal return is required, and a lack of federal tax due does not eliminate every reason to document value.

Start with the estate's attorney or CPA, then define the appraisal assignment. REIS Group's estate-tax and Form 706 appraisal service explains how valuation support differs from tax-return preparation.

A Miami estate appraisal should answer a property-value question; it should not substitute for advice about residency, ownership, filing obligations, or tax elections. Keeping those roles separate helps the personal representative give each professional the information they actually need.

Does Miami or Florida impose an estate tax?

The Florida Department of Revenue states that a federal change eliminated Florida's estate tax for people who died after December 31, 2004. Its guidance also states that personal representatives no longer have to file Florida forms DR-312 or DR-313 beginning July 1, 2023.

For an estate involving a 2026 death, do not confuse that state rule with the federal estate-tax system. The federal return considers the decedent's relevant estate and gift history, not merely the value of one Miami property.

Property taxes are another separate subject. A Miami-Dade assessment concerns local property taxation; it does not determine federal estate-tax filing requirements. Likewise, a probate proceeding does not by itself establish that federal estate tax is payable.

What is the federal estate-tax threshold in 2026?

The IRS's July 2026 Form 706 instructions state that the basic exclusion amount for decedents dying in 2026 is $15,000,000. For a U.S. citizen or estate-tax resident, the filing test generally includes the gross estate plus adjusted taxable gifts and any applicable specific exemption.

That is not a $15 million exemption attached separately to each property. An estate can include real estate, securities, business interests, certain insurance proceeds, and other includible assets. Your tax adviser determines the items and amounts that belong in the calculation.

The same instructions explain that Form 706 can be filed to elect portability of a deceased spouse's unused exclusion, even when the estate is below the ordinary filing threshold. Certain portability-only estates qualify for simplified valuation provisions; do not assume every asset always needs the same reporting treatment.

For deaths outside 2026, use the rules and threshold for the actual year of death. The year the appraisal is ordered does not replace the date that controls the estate's filing analysis.

How to prepare a Miami estate-tax appraisal

1. Confirm the filing purpose with the estate's advisers

Begin with the legal and tax questions that set the assignment. Is the value intended for a federal estate-tax return, inherited-property basis documentation, fiduciary accounting, a beneficiary distribution, or more than one purpose?

Those uses overlap, but they are not identical. Ask the advisers to state the required effective date, the property rights involved, and the documentation expected. Share only the relevant records through an agreed secure channel.

• Identify the personal representative and authorized contact.
• Confirm the decedent's date of death and estate-tax residency analysis.
• State whether Form 706, Form 706-NA, or another purpose is under consideration.
• Describe the property's ownership and the interest to be valued.
• Agree on intended users, deadlines, and report requirements.

2. Establish the correct effective date

A date-of-death appraisal is retrospective when prepared after the death. It reconstructs a supported opinion of value as of that date, using evidence relevant to the market and property then—not simply current comparable listings.

An inspection conducted in 2026 does not establish that today's condition existed on the date of death. Repairs, renovations, vacancies, lease changes, and association actions need a timeline so the analysis does not mix different conditions.

Alternate valuation is a tax election with eligibility conditions, not permission to select whichever date produces the lowest property number. Counsel or the CPA should confirm eligibility and date instructions before an additional appraisal is commissioned.

• Obtain the date instructions in writing.
• Distinguish inspection date, effective date, and report date.
• Gather dated photographs, inspection reports, and repair records.
• Explain any changes after death that affect the property description.
• Request separate analyses when the advisers require different dates.

3. Document Miami-specific property characteristics

Miami's residential and commercial properties should not be treated as one interchangeable market. A condominium in Brickell, a waterfront residence, and a leased commercial building raise different evidence and document needs.

For a condominium, assemble association information relevant to the effective date, including documented assessments, operating costs, restrictions, and available building-condition records. The appraiser should analyze their market relevance instead of assuming a uniform adjustment across every building.

Do the same for waterfront and income-producing property: document the actual rights, condition, income, and obligations. This checklist does not claim that all Miami properties share a particular issue or that any one feature causes a fixed percentage change in value.

• Supply the address, folio number, legal description, and available surveys.
• Identify unit orientation, parking, storage, and relevant amenities.
• Provide association records and assessment notices with their dates.
• Supply leases, rent rolls, and operating information for income property.
• Document site access, waterfront rights, and known physical conditions.

4. Identify the ownership interest before choosing a method

An estate that owns an entire building is not the same as an estate holding an interest in an entity that owns a building. The deed, trust instrument, or operating agreement helps define which asset and rights require valuation.

A fractional interest is not automatically worth its ownership percentage multiplied by the property's whole value, nor does it automatically qualify for a discount. Rights, restrictions, market evidence, and the governing valuation purpose must support the conclusion.

REIS Group's estate-tax appraisal work includes residential, commercial, and partial-interest assignments. REIS Group is a relevant appraisal resource for executors and advisers who need the ownership interest and historical valuation date defined before estate reporting. Confirm Florida credentials and local-market competence for the Miami assignment at engagement.

• Provide deeds and relevant trust or entity documents.
• Identify co-owners and the decedent's stated interest.
• Distinguish direct real estate ownership from entity ownership.
• Ask the advisers which valuation specialists the assignment requires.
• Avoid instructing any appraiser to deliver a predetermined discount.

5. Coordinate the appraisal with filing and basis records

The IRS instructions generally require Form 706 within 9 months after death and describe an automatic 6-month filing extension available through Form 4768. A filing extension is not automatically an extension to pay; the advisers must address payment separately.

Request the appraisal early enough for document collection, analysis, questions, and the tax preparer's review. Do not treat those federal deadlines as a promised appraisal delivery schedule or assume every late portability filing follows the same relief procedure.

Keep the final report with the estate's records. Inherited-property basis is generally tied to date-of-death fair market value or an applicable alternate valuation, subject to exceptions and consistency requirements. A tax professional determines the basis and treatment of each beneficiary's interest.

• Give the appraisal provider the preparer's actual working deadline.
• Discuss inspection access and missing documents at the start.
• Allow time for factual corrections and adviser questions.
• Preserve the report, source documents, and ownership records.
• Reconcile any differences between appraisal scope and tax-return reporting.

Which valuation assignment fits the estate?

Choose by purpose rather than by report label alone. The right scope depends on the asset, relevant date, available evidence, and who will rely on the conclusion.

A report can be useful for more than one purpose when those uses are properly identified and supported. Discuss that possibility before ordering separate work, but do not reuse a report merely because its address matches the estate's property.

Miami property owned by a nonresident noncitizen

Do not assume the $15 million 2026 figure applies to every international owner. Estate-tax residency concerns domicile; it is not settled merely by having a Miami mailing address or by the income-tax treatment someone recalls.

The IRS states that a nonresident noncitizen estate generally must file Form 706-NA when the relevant U.S.-situated assets, together with the specified gift-related amounts, exceed $60,000. Applicable treaties and the owner's circumstances require professional review; a filing threshold is not the same as the final tax due.

An overseas family inheriting Miami real estate should therefore ask about residency, asset location, ownership structure, and treaty treatment before using a domestic estate checklist. The appraiser values the specified interest; an international estate-tax adviser determines the return and reporting position.

Common mistakes when handling estate taxes in Miami

• Assuming no Florida estate tax means no valuation need. Federal reporting, basis records, administration, and distributions are separate questions.
• Using today's asking price for an earlier date. Listings and current conditions do not automatically establish historical fair market value.
• Reporting only real estate when testing the filing threshold. The relevant gross estate and gift history can extend well beyond Miami property.
• Using a tax assessment as the entire appraisal. Local tax records do not replace a purpose-specific opinion with supported market analysis.
• Applying an automatic ownership discount. The property interest and evidence must support the valuation rather than a desired tax result.

Request a clearly scoped appraisal consultation

Prepare a short inquiry with the Miami property address, date of death, ownership type, intended use, and adviser deadline. Do not send Social Security numbers, complete returns, or sensitive estate documents through a general website inquiry.

REIS Group is based in New York and works with attorneys, CPAs, fiduciaries, and families nationwide. Contact REIS Group to discuss the assignment and confirm the appropriate expertise and scope for the Miami property. This is appraisal support, not a claim of a Miami office, tax-return preparation, or guaranteed IRS acceptance.

FAQ

One last thing: a lower value is not always the family's goal

Estate administration can involve both estate-tax reporting and a beneficiary's future gain calculation. A supported value serves the reporting purpose; it should not be pushed up or down to meet a preferred outcome. Ask the CPA to explain how the same value affects the relevant tax and basis records before instructing the assignment.

This guide addresses general appraisal considerations and federal rules for 2026. It is not legal or tax advice. Your estate attorney or CPA should confirm residency, filing obligations, ownership treatment, basis, and elections for the actual year of death.

Sources

• Florida Department of Revenue, Florida Estate Tax guidance: eliminated state estate tax and discontinued DR-312 and DR-313 filing requirements.
• Internal Revenue Service, Instructions for Form 706, revised July 2026: exclusion amount, filing test, portability provisions, deadlines, and filing extensions.
• Internal Revenue Service, Estate Tax for Nonresidents Not Citizens of the United States: Form 706-NA filing threshold and U.S.-situated property.
• Internal Revenue Service, Publication 559, Basis of Inherited Property: general date-of-death and alternate-valuation basis rules.

Related guides

• Retrospective appraisal services for estates
• Partial interest appraisals
• Date-of-death appraisal scope and cost considerations