Property, Wealth & Inheritance Taxes: Assessed Values, Mill Rates & Estate Shares
Calculate taxes on what people own and pass on under a fictional tax code – property tax with mill rates and capped reassessments, net wealth brackets, imputed rental value, gift exclusions, estate shares by class, inheritance tax per heir and giving now vs inheriting later – with every cell checked as you go.
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About this course
In this course you calculate the taxes on what a fictional family owns and passes on, in eight interactive spreadsheet labs. You turn market values into assessed values with a class lookup, apply exemptions and mill rates, and project capped reassessments over six years with a line chart. You build a progressive net wealth tax with the SUMPRODUCT differential-rate method, test how imputed rental value and mortgage interest affect taxable income, and track gift exclusions and a lifetime exemption with running SUMIFS. Finally you split an estate by relationship class, equalise advances, tax each heir with XLOOKUP and compare giving now with inheriting later. All rules are simplified and fictional.
Lessons
- Property Tax: Assessment Ratios, Exemptions & Mill Rates Pro
- Reassessments & Capped Increases: A Six-Year Projection Pro
- Net Wealth Tax: Taxable Assets, Debts, Allowances & Brackets Pro
- Imputed Rental Value: Living in Your Own Home & the Mortgage Effect Pro
- Gift Tax: Annual Exclusions, Lifetime Exemption & Running Totals Pro
- Estate Distribution: Residue, Class Shares & Equalising Advances Pro
- Inheritance Tax per Heir: Class Allowances & Rates with XLOOKUP Pro
- Give Now or Inherit Later: After-Tax Value per Heir Pro