Inherited condo

My grandmother left a senior citizen condominium to me and my cousin. Do I have to pay taxes on it when we sell it? The appraised value is around $21,000.

If the appraised value is the value used for estate valuation purposes (usually the true market value at the date of death), then that amount is your “basis” in the condominium. If you and your cousin sell the condo for more than that, you will have a gain to report as long-term capital gain. If you sell it at the same value as that used for the estate then there is no gain or loss.