Estate settlement is a part of estate planning to ensure that the wealth of an individual is passed on to the intended beneficiaries before his death.
Note that the property tax assessment is not equivalent to the market value of the property. This is because property tax assessors often do not enter the property; they do not consider the condition of the property’s interior. In this situation, the homeowner orders an appraisal either by contacting the company directly or through an accounting firm. The appraisal report tells the homeowner the value of his property. With this report, the homeowner may find that the property tax he pays is less than what the municipality asks for, or he may realize that the land has gone up in value.