IT-9 - How to Value Property on Inheritance Tax Return

All property, real and personal, shall be appraised at its full and true value at the date of death of the decedent. Stocks and bonds listed on recognized exchanges shall be valued at the mean between the high and low sales prices on the date of death or the weighted average between the nearest business days of such exchange on such date. There is a provision for alternate valuation date, which is six months after the decedent's death, if the executor or administrator elects.