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Southbury, Woodbury and Newtown Information:
About Southbury, Woodbury and Newtown - Moving to Southbury, Woodbury and Newtown, Connecticut? Get info here... School Reports - Reports for Southbury, Woodbury and Newtown schools kindergarten, elementary, and high schools. School Information - Southbury, Newtown, and Woodbury schools and the education system in Connecticut; kindergarten, elementary, high schools, colleges & universities Relocating? - Free real estate information & relocation package if you're relocating to Southbury, Woodbury and Newtown, in New Haven County CT. Local Maps & Links - Southbury, Newtown, and Woodbury maps & local/Connecticut web site links for news & media, TV stations, radio stations, daily Southbury, Newtown, and Woodbury newspapers, transportation, airports & bus terminals, Connecticut & local government, and more. Go to Main Sitemap - Main sitemap sections include Find Southbury, Woodbury and Newtown Homes, For Home Buyers, For Home Sellers, Southbury, Woodbury and Newtown Information, Real Estate Resources, and About The Nettleton Group. 
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Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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| Q |
What was the longest distance a building has ever been moved?
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| A |
Detroit's five-story Gem Theater, built in 1927, was moved 1,850 feet (5 blocks) to make way for two new sports stadiums. |
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The Nettleton Group
William Raveis Real Estate
141 Main Street North
Southbury, CT. 06488
Cell: 203-217-4979
Fax: 203-264-6425
Email: nettletonr@raveisre.com
Ron Nettleton of William Raveis Real Estate is consistently one of the top real estate agents in the Southbury area receiving numerous awards. Ron has been satisfying clients and customers in sales for over 28 years, giving unparallel service and dedication. He strives for excellence by providing his clients with extensive knowledge and quality of service. Ron's negociation skills, sense of fairness and strong commitment to his clients needs have won him the respect he enjoys.    
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