Every three years the Michigan state treasurer adjusts the
exemption dollar amounts to take into account inflation. The latest adjustment
will go into effect on April 1, 2014. If you file for bankruptcy on or after
April 1, 2014, the following exemption amounts will apply to your case:
- Household goods, furniture, utensils, books,
appliance, and jewelry, up to $600 per item, but not to exceed a total of
$3,775 for all items. (The previous amounts were $550 and $3,525 respectively.)
- Pew in a place of worship, up to $650
(previously it was $600).
- Crops, farm animals, and feed for the animals,
up to $2,525 total (previously it was $2,350).
- Pets, up to $650 (previously it was $600).
- Motor vehicle, up to $3,475 (previously it was
$3,250). (Learn more about the Michigan
motor vehicle exemption.)
- Computer and accessories, up to $650 (previously
it was $600).
- Tools of the trade, up to $2, 525 (previously it
- Homestead exemption to $37,775 (previously it
was $35,300) or to $56,650 if you are 65 years old or disabled (previously it
was $52, 925). (Learn more about the Michigan
You can find the Michigan
bankruptcy exemptions adjusted for inflation on the Michigan Department of
Treasury’s website. To read about other
exemptions (not all of them changed), see Nolo’s article The
Michigan Bankruptcy Exemptions.
Effective date: March 26, 2014