Montclair Colony

Montclair Colony Property Prices & Rental Yield

Verified Redfin sale data and Zillow ZORI asking rent.

Is Montclair Colony Safe? Natural-Hazard Risk

FEMA National Risk Index composite across eight hazards, plus inherited New York crime context.

Montclair Colony Environment & Safety

Satellite PM2.5 air-quality history, FBI UCR crime trend (New York-level, the finest official aggregation), EPA radon potential and point-source hazard screening.

Walkability & Amenities in Montclair Colony

Amenity density and pedestrian access from OpenStreetMap points of interest.

Montclair Colony vs City vs New York

How Montclair Colony benchmarks against its city and state medians.

Buying Property in the US as a Foreigner

Federal & New York tax facts for non-resident buyers, plus the latest local market news.

Buying as a Foreigner

US Tax & Ownership

Applies to everyone7

Capital Gains (Federal)

Long-term capital gains taxed federally at 0/15/20%, plus a 3.8% Net Investment Income Tax on higher incomes (2026).

Property Tax

Property tax: ~1.23% average effective rate (statewide average; set and collected locally).

State Income Tax

State income tax up to 10.9%; rental income is taxed at these rates.

State Capital Gains

Capital gains are taxed as ordinary income at state rates.

Transfer Tax

Real estate transfer tax: 0.4% state + NYC tax; mansion tax 1%+ (NYC to 3.9%).

Assessment Cap

NYC limits assessment growth on small homes; the assessment does not reset on sale.

Mansion Tax / Rent Control

Mansion tax runs from 1% ($1M) up to 3.9% (NYC, $25M+); New York City has rent stabilization.

US citizens & tax residents7

Primary-Home Exclusion

Selling your main home: exclude up to $250k of gain (single) / $500k (married) if you owned and lived there 2 of the last 5 years.

1031 Like-Kind Exchange

A 1031 like-kind exchange defers capital gains tax on investment property; 45 days to identify, 180 to close. Real estate only.

Depreciation Recapture

Residential rentals depreciate over 27.5 years; on sale, recaptured depreciation is taxed up to 25% (Section 1250).

Mortgage Interest Deduction

Mortgage interest is deductible on up to $750k of home debt. The SALT cap rose to $40,000 for 2025-2029 (reverts to $10k in 2030).

Opportunity Zones

Opportunity Zones are now permanent (2025): reinvested capital gains get deferral plus a basis step-up, and are tax-free after 10 years.

Rental Income (Resident)

Rental income is reported on Schedule E; passive-loss rules (Section 469) limit deducting rental losses against other income.

1031 State Conformity

The state conforms to the federal 1031 like-kind exchange rules.

Foreign buyers (non-residents)5

FIRPTA (Foreign Sellers)

FIRPTA: the buyer withholds 15% of the gross sale price when a nonresident sells US property. It is an advance deposit, not the final tax.

Non-Resident Capital Gains

Nonresident sellers pay US capital gains tax (generally 15-20%) on the net gain via Form 1040-NR; FIRPTA withholding is credited.

Non-Resident Rental Tax

Nonresident rental income is taxed at 30% of gross by default, or on net income at graduated rates via a Section 871(d) election (W-8ECI).

Estate Tax (Non-Resident)

Nonresidents get only a $60,000 US estate-tax exemption (vs $13.99M for residents); US property above it is taxed up to 40%. Treaties may help.

ITIN Requirement

Nonresidents without an SSN need an ITIN (Form W-7) to file US tax returns, claim FIRPTA refunds, and report rental income.

Talk to a US real-estate tax advisor

FIRPTA, ITIN & New York property-tax guidance for foreign buyers

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