Do I Need a Date-of-Death Appraisal in Ontario?

Short answer: if the estate includes a home or other real estate in Toronto, Hamilton or anywhere in Ontario, the executor usually needs to know what it was worth on the date of death. A certified appraisal is the most reliable way to document that value for the Canada Revenue Agency, for probate and for the beneficiaries.

Why the Date of Death Matters

When someone passes away, Canadian tax rules treat their property as if it were sold at fair market value immediately before death. This is called a deemed disposition. The value on that date is used to work out any capital gain on the deceased's final (terminal) tax return.

It also sets the starting value for the beneficiaries. If they later sell the home, their own gain is measured from the date-of-death value, so an accurate number protects them too.

When You Need a Date-of-Death Appraisal

• The property was not the principal residence for every year. A cottage, a rental or a second home can have a taxable capital gain, and CRA expects a supported value.
• The home is going through probate. Ontario's Estate Administration Tax is based on the value of the estate, so the executor must report the home's value.
• One beneficiary is buying out the others. A neutral appraisal gives everyone the same fair number and avoids disputes.
• The estate's lawyer or accountant asks for one. Professionals often want an independent report on file.

When You Might Not Need One

If the home was the deceased's principal residence for every year they owned it, the principal residence exemption may cover the whole gain. Even then, many executors still get an appraisal, because the value is needed for probate, for dividing the estate fairly and as the beneficiaries' starting cost. Your accountant or estate lawyer can confirm what applies to you.

Can a Date-of-Death Appraisal Be Done Later?

Yes. Appraisers regularly complete retrospective appraisals, which value the home as of a past date using sales and market conditions from that time. It helps to order it sooner rather than later, while the home is still in the same condition and the comparable sales are easy to verify.

How Much Does a Date-of-Death Appraisal Cost?

Because it values the home as of a past date, a date-of-death appraisal is priced as a retrospective appraisal. At Best Home Value, fees start at $470 for a condo or townhouse and $575 for a detached or semi-detached house in the Greater Toronto and Hamilton Area. Your exact fee is confirmed in writing before anything is booked. See our full fee table.

How long does it take?

Most reports are delivered within 2–3 business days of the inspection, as a signed PDF that you can share with the estate lawyer and accountant.

Why Not Use an Online Estimate or an Agent's Opinion?

Automated estimates and agent price opinions can be useful for a rough idea, but they are not signed, independent reports. A certified appraisal is prepared by a designated appraiser to the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), explains how the value was reached and stands up if CRA, a beneficiary or a court asks questions.

What You'll Need to Get Started

• The property address and the date of death
• Contact details for the executor (and the lawyer or accountant, if they should get a copy)
• Access to the home, or photos if it has changed or already been sold

Related Articles

• How is a home valued for Ontario probate?
• Selling an inherited home: what about capital gains?
• Can I get an appraisal for a past date for CRA?

This article is general information, not tax, legal or financial advice. Please speak with your accountant, lawyer or lender about your situation.