Tax and finance · Reinvent NY glossary
Estate tax is a tax on the right to transfer property upon death. The federal estate tax applies to estates with a total value exceeding the exemption threshold, which is $13.61 million per individual for 2024. The tax rate on amounts above the exemption can reach up to 40%.
New York State imposes its own estate tax with a much lower exemption of approximately $6.94 million. Notably, New York has a "cliff" provision: if the estate exceeds 105% of the exemption amount, the entire estate becomes taxable, not just the amount above the threshold. This makes estate planning particularly important for property owners in New York.
For non-resident aliens who own U.S. property, the federal estate tax exemption is only $60,000, meaning nearly all U.S.-situated assets could be subject to estate tax at rates up to 40%. International real estate investors should consider ownership structures such as foreign corporations or trusts to mitigate estate tax exposure. Consulting with an attorney experienced in cross-border estate planning is strongly recommended.
The four states international buyers ask about most: New York up 5.2% on the year, California at a 4.22% yield, and what Texas and Florida really cost.
Indiana, Missouri and Ohio in 2026: state gains of 3-3.5% on the year with yields of 5.75-6.61%, and the secondary cities quietly outperforming the metros.
Baltimore in 2026: a $192,669 typical value, $1,799 rents and an 11.2% gross yield — the highest on the Northeast corridor, and what the price is telling you.
Ohio in 2026: a $251,502 state median up 3.5% on the year, with Cleveland at a 14.13% gross yield and Columbus at 6.96% — and what separates the two.
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