There are several ways to value real property for an estate inventory. You can use a formula of 2 x the State Equalized Value (SEV) for the year that the decedent died. The SEV can be found on a property tax statement or on the tax assessor’s website. For example, if the SEV is $150,000.00, the inventory value if $300,000.00. You can also deduct any mortgage on the property from the inventory value. Another way to value real estate is to have an appraisal performed. An appraisal will give a more accurate value than using the SEV since the SEV may not reflect the housing market. Some courts will also accept a realtor’s sales analysis as a way to value real property.