*The Minnesota legislature requires an inflation adjustment to all exemptions in even-numbered years. Check with the Minnesota Department of Commerce for current figures.
Homestead Exemption
- Real property to $200,000, or, if used for agricultural purposes, to $500,000.
Insurance Exemption
- Life insurance proceeds if beneficiary is spouse or child of insured to $32,000, plus $8,000 per dependent.
- Fraternal benefit society benefits
- Disability or accident proceeds
- Police, fire or beneficiary society proceeds
- Unmatured life insurance contract dividends to $6,400 for dependents
- Pensions for state employees, firefighters, probate judges, legislators, public school employees, private retirement benefits and ERISA-qualified benefits not to exceed $48,000.
- Aid for the blind, aged or disabled, veteran’s benefits and AFDC.
- Unemployment compensation.
- Worker’s compensation.
- Veteran’s benefits
Personal Property
- Furnishings and household goods to $7,500
- Bible, books and musical instruments
- Clothing and food
- Burial plots, church pew or seats
- Automobile to $3,200 or to $32,000 if modified for disability
- Tools of trade such as farm machines, livestock, farm produce and crops to $13,000 total
- Teaching materials of public school teacher
