Minnesota Exemptions Summary:
Homestead
Home and land on which it is situated to $510,000; if homestead is used for agricultural purposes, $1,275,000; cannot exceed 1/2 acre in city, 160 acres elsewhere (husband & wife may not double)
Vehicle Exemption
$10,000 (up to $100,000 if vehicle has been modified for disability) (adjusted for inflation July 1, 2024, then amended August 1, 2024)
Personal Property
Appliances, furniture, jewelry, radio, phonographs, & TV to $12,150 total
Sacred Objects and books to $2,000
Clothing, one watch, food, & utensils for family
Household Tools to $3,000
Farm machines, implements, livestock, produce, & crops to $13,500 total
Tools, machines, instruments, stock in trade, furniture, & library to $13,500 total
Total value of Tools of Trade and Farm Machines combined cannot exceed $13,500
(adjusted for inflation July 1, 2024)
Wild Card
None