Grimes County Congressman Kevin Brady is working to repeal the estate tax, also known as the death tax, which should be of interest to you if you have land, property or a business.
During a recent meeting of the House of Ways and Means Committee, Brady told two tales of woe about land owners. One had to repeatedly pay the tax after a series of deaths, while another woman had to sell two-thirds of her family’s farm land, just to keep what was left.
Grimes central appraisal district’s Bill Sullivan tells Navasota News, values of land have been on the rise as of late. But under both the Bush and Obama administrations, the limit of non-taxed inheritances has risen to just under five and a half million dollars, which begs the question, how much are you worth?
Navasota News is following this ongoing story, and will keep you up-to-date as Congressman Brady’s efforts continue.
