Property tax sundown 2025 refers back to the scheduled expiration of the federal property tax, at the moment scheduled to happen in 2025. The property tax is a tax on the switch of property from a deceased individual to their heirs or beneficiaries. With out congressional motion to increase or make everlasting the property tax, it is going to stop to exist in 2025.
The property tax has been part of the U.S. tax system since 1916. It’s designed to boost income and to cut back the focus of wealth within the palms of some households. The property tax is at the moment imposed on estates valued at over $12.06 million for people and $24.12 million for {couples}. The tax charge ranges from 18% to 40%, relying on the worth of the property.