Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
Find Out More >
View All Offers >
|
 Compare three
mortgages at one time. Download TripleCalc now. It's free. |
|
Before you buy or sell...See what has just sold...
Click here to view SoldHomesReport for 2007 in Closter
   
Closter is a family-centered community of 9,000 located about ten miles northwest of New York City. During the Revolutionary War, Closter was the scene of many foraging raids by both sides, but was viewed as a rebel hotbed by the British. A monument on Piermont Road commemorates the "Lone Horseman" who is credited with warning patriot troops at Fort Lee of Cornwallis' impending landing with 5,000 troops at Closter Dock and thus contributing to General Washington's successful strategic retreat across New Jersey.
Closter today may be called the "Hub of the Northern Valley" due to its concentration of shopping centers, recreational facilities, and religious, medical, educational and legal resources. Although Closter has the most homes in Bergen County built before 1740 and many street names recall the early Dutch and French settlement, it offers new upscale housing developments creating a pleasing blend of the historic and the up-to-the-minute. Commuters to New York City find a scenic and friendly locale in which to raise families in Closter.
The Closter school system consists of the Hillside Elementary School, The Tenakill Middle School and high school students attend the very highly rated Northern Valley Regional High School.
The Closter Recreation Department offers sports programs, including travel teams for K-8, Adult Recreation Programs, a free Children's Summer Recreation Program, Memorial Day Picnic, Halloween Parade and a Performing Arts Program. The Closter Nature Center sponsors monthly programs for youth and community groups. The Closter Library is located at 280 High Street.
Some of the Houses of Worship include Temple Beth-El and Temple Emanu-El.
 |
|
Tax Considerations >Tax Rewards for Homeowners
The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.
Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.
The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.
|
|
| Q |
What is one of the most unusually shaped buildings in the world?
|
| A |
The all-suite Arabian Tower hotel near Dubai is 1,052 feet tall, built on a man-made island and shaped like a boat sail.
|
 See More Real Estate Trivia > |
|
|
 |
| All Real
Estate Agents are NOT alike!.... Find out why I'm #1 Agent in Tenafly.... Call
us: 201-227-2045. |
|
 |
|
|
- NUMBER1EXPERTS™ 
