Section 7-208 – Concurrent Absolute and Less Than Absolute Interests
(a) (1) If there is a formal administration of an estate, the court with jurisdiction to administer the estate shall determine, for purposes of the inheritance tax, the value of any concurrent absolute interest or less than absolute interest in property that passes from the decedent, that is listed in an account required under § 7-305 of […]
Section 7-209 – Method to Value Concurrent Absolute and Less Than Absolute Interests
(a) Except as otherwise provided by an instrument that creates a joint tenancy or by law, if, before death, a decedent had an absolute interest in property as a joint tenant, the value of the interest in the property that passes from the decedent is determined by dividing the value of the entire property by the […]
Section 7-210 – Subsequent Interests
(a) (1) If an application to prepay inheritance tax for a subsequent interest in property is filed under § 7-219 of this subtitle, the value of the subsequent interest is determined by subtracting the value of all preceding and concurrent interests from the value of the whole property. (2) The total inheritance tax on all interests in the […]
Section 7-211 – Election for Special Valuation
(a) The person responsible for paying the inheritance tax may elect to value real property, for purposes of the inheritance tax: (1) at its most recent real property assessment plus any inflation allowance if, for the 5 years immediately before the date of the death of the decedent, the real property qualifies under § 8-209 or § […]
Section 7-207 – In General
Except as provided in §§ 7-209 through 7-211 of this subtitle, the value of property that passes from a decedent is, for purposes of the inheritance tax, the appraised value of the property required to be stated in the inventory required to be filed under § 7-225 of this subtitle.