Thank you very much for the answers. At this point, I have no plan to sell the house and I am living in it now. I might a year from now but I don't have a plan at this point. I can understand that if I want to sell the house now, I would want to have it appraised with a higher value, but that would mean paying more estate tax. I called and as a person from the NJ tax division and she said that I could submit the value of the house based on the appraised value for personal property tax, but if the value is not a good representation, they could challenge it.

