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<Back to Page			Property 36 of 36 Selections

Building Lot in Beaver Dam Estates South

$99,000

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Address: 26096 Kits Burrow Court	City/ST: Georgetown, DE	Zip Code: 19947
Location: Georgetown	Property Type: Lot	New or Resale: Resale
Square Footage: 54450	MLS# 568814

Welcome to Beaver Dam Estates South! A community that has wooded lots available from 1 to 3 acres to build your dream home on. There is not any builder tie in. Only minutes to the beaches in Lewes and Cape Henlopen State Park in Delaware. Builders Welcome! Call Bill Cullin at 302-841-7147 or Karen Gustafson at 302-236-8821 for more information.

Last Updated: 12/5/2009 12:06:11 PM

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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.

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Q	Over what famous building is aircraft forbidden to fly at any time?
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Bill Cullin, REALTOR�, real estate agent and broker for Lewes, Rehoboth Beach, Bethany Beach and Dewey Beach, Delaware home listings, property and land for sale - NUMBER1EXPERT

Bill Cullin
Long & Foster Real Estate Inc
37156 Rehoboth Avenue Ext Suite 5
Rehoboth Beach, DE 19971
302-841-7147
Fax: 302-227-8165
billcullin@NUMBER1EXPERT.com

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