BAD idea to use gov assessed value for IRS?

[Mary Joe]

Hi All

I am thinking of transferring ownership of a property from one entity to another.

Is it true that IRS will definitely NOT accept government assessed value for a property?

I prefer not to have to spend the money on an appraisal if I can rely on government assessed value that is showing on the property tax statement.

Any advice would be appreciated.

Thanks

MJ