- (Property Tax) Will it jump to current appreciation rate? Or, inherit the elder's property tax rate?
Property (real estate) taxes? That would be dependent upon the particular county property appraiser, assessor, or relevant authority.
If the "elders" had some sort of homestead exemption or other discounted assessment because they used the property as their principal residence, then the heirs would likely lose that if the property is then used for rental purposes.
