My mom bought her home for $10,000. The house is now assessed at $168,000 and the land is valued at $502,000. She is 95 and now is in assisted living. I have rented the house for the past year to help pay her expenses. It is not entirely necessary to rent, because her pension and savings will probably carry her through. For tax purposesI've been advised not to sell untill after my mom's death because the house would be valued on the date of her death