450.1 Definitions — construction. 1. For purposes of this chapter, unless the context otherwise requires: a. “Internal Revenue Code” means the same as defined in section 422.3. b. “Person” includes plural as well as singular, and artificial as well as natural persons. c. “Personal representative” means an administrator, executor, or trustee as each is defined […]
450.10 Rate of tax. The property or any interest therein or income therefrom, subject to the provisions of this chapter, shall be taxed as herein provided: 1. When the property or any interest in property, or income from property, taxable under the provisions of this chapter, passes to the brother or sister, son-in-law, or daughter-in-law, […]
450.12 Liabilities deductible. 1. Subject to the limitations in subsections 2 and 3, there shall be deducted from the gross value of the estate only the liabilities defined as follows: a. The debts owing by the decedent at the time of death, the local and state taxes accrued before the decedent’s death, the federal estate […]
450.17 Conveyance — effect. When real estate or an interest in real estate is subject to tax, a conveyance does not discharge the real estate conveyed from the lien except as provided in section 450.7. [S13, §1481-a26; C24, 27, 31, 35, 39, §7323; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, […]
450.2 Taxable estates and property. The following estates and property and any interest in or income from any of the following estates and property, which pass from the decedent owner in any manner described in this chapter, are subject to tax as provided in this chapter: 1. Real estate and tangible personal property located in […]
450.20 Record of deferred estates. The department of revenue shall keep a separate record of any deferred estate upon which the tax due is not paid on or before the last day of the ninth month after the death of the decedent, showing substantially the same facts as are required in other cases, and also […]
450.21 Administration on application of director. If, upon the death of any person leaving an estate that may be liable to a tax under this chapter, a will disposing of the estate is not offered for probate, or an application for administration made within four months from the time of the decease, the director of […]
450.22 Administration avoided — inheritance tax duties required — penalty. 1. When the heirs or persons entitled to inherit the property of an estate subject to tax under this chapter desire to avoid the appointment of a personal representative as provided in section 450.21, and in all instances where real estate is involved and there […]
450.24 Appraisers. In each county, the chief judge of the judicial district for that county shall, on or before January 15 of the year an appointment is required, appoint three competent residents and freeholders of the county to act as appraisers of the real property within its jurisdiction which is charged or sought to be […]
450.27 Commission to appraisers. When an appraisal of real estate is requested by the department of revenue, as provided in section 450.37, or is otherwise required by this chapter, the clerk shall issue a commission to the appraisers, who shall fix a time and place for appraisement, except that if the only interest that is […]
450.28 Notice of appraisement. It shall be the duty of all appraisers appointed under the provisions of this chapter, upon receiving a commission as herein provided, to give notice to the director of revenue, the attorney of record of the estate, if any, and other persons known to be interested in the property to be […]
450.29 Notice of filing. Upon service of such notice and the making of such appraisement, the notice and appraisement shall be filed with the clerk, and a copy of the appraisement shall at once be filed by the clerk with the director of revenue. The clerk shall send a notice, by ordinary mail, to the […]
450.3 Property included. The tax imposed under this chapter shall be collected upon the net market value, and shall go into the general fund of the state, to be determined as provided in this chapter, of any property passing as follows: 1. By will or under the statutes of inheritance of this or any other […]
450.30 Real property in different counties. If real property is located in more than one county, the appraisers of the county in which the estate is being administered may appraise all real estate, or those of the several counties may serve for the real property within their respective counties or other appraisers be appointed as […]
450.31 Objections. The director of revenue or any person interested in the estate or property appraised may, within sixty days after filing of the appraisement with the clerk, file objections to said appraisement and give notice thereof as in beginning civil actions, to the director of revenue or the representative of the estate or trust, […]
450.32 Hearing — order. If upon the hearing the court finds the amount at which the real property is appraised is the property’s value on the market in the ordinary course of trade and the appraisement was fairly and in good faith made, the court shall approve the appraisement. If the court finds that the […]
450.33 Appeal and notice. The director of revenue or anyone interested in the property appraised may appeal to the supreme court from the order of the district court fixing the value of the property of said estate. Notice of appeal shall be served within sixty days from the date of the order appealed from, and […]
450.34 Bond on appeal. In case of appeal the appellant, if not the director of revenue, shall give bond to be approved by the clerk of the court, which bond shall provide that the said appellant and sureties shall pay the tax for which the property may be liable with cost of appeal. [S13, §1481-a7; […]
450.36 Appraisal of other property. If there is an estate or real property subject to tax and the records in the clerk’s office do not disclose that there may be a tax due under this chapter, the persons interested in the real property shall report the matter to the department of revenue with a request […]
450.37 Value for computing the tax. 1. Unless the value has been determined under chapter 450B, the tax shall be computed based upon one of the following: a. The fair market value of the property in the ordinary course of trade determined under subsection 2. b. The alternate value of the property, if the personal […]
