Homestead Exemptions By State 2019

A homestead exemption is a legal provision that helps shield a home from some creditors following the death of a homeowner spouse or the declaration of bankruptcy. A homestead exemption can block the forced sale of a primary residence and provide tax relief for surviving spouses. Homestead exemptions are only for one primary residence and no other exemption can be claimed on any other property anywhere.

Homestead exemption is a great option for those facing financial hardship, such as people filing for bankruptcy or widow or widower facing higher bills than he or she can no longer afford to pay due to the passing of a spouse.

Homestead exemptions can protect a home up to a certain value of the homeowner’s equity in it. If the homestead’s equity exceeds the limit of the exemption in that state, creditors may force the debtors to sell. In this case, the debtors would receive the monetary amount of the bankruptcy exemption.

Tax reductions under homestead exemptions are usually a fixed discount on taxes. For example, a home valued at $150,000 using a $50,000 homestead exemption will be taxed on $100,000 of assessed value.

Homestead exemptions vary by state, including how it is applied and how much protection it offers against creditors. The exemption is an automatic benefit in some states and a claim must be filed in others. New Jersey and Pennsylvania have no homestead exemptions.

The current federal bankruptcy exemption amount as of 2019 is $25,510. While most states require homeowners to use the state’s limit, some will allow the homeowner to use either the federal or the state.

Below is a table with each state’s homestead exemption amounts.

State Homestead Exemption Amount Married Couples / Joint Owners 2019 Pop.
New JerseyNone8,922,547
PennsylvaniaNone12,813,969
Kentucky$5,0004,484,047
Tennessee$5,000$7,5006,833,793
Virginia$5,000$10,0008,571,946
Alabama$15,000$30,0004,898,246
Illinois$15,000$30,00012,700,381
Missouri$15,0006,147,861
Indiana$19,300$38,6006,718,616
Hawaii$20,0001,416,589
Utah$20,000$40,0003,221,610
Wyoming$20,000$40,000572,381
Georgia$21,500$43,00010,627,767
Maryland$22,9756,062,917
West Virginia$25,000$50,0001,791,951
Michigan$30,00010,020,472
Louisiana$35,0004,652,581
North Carolina$35,000$70,00010,497,741
Oregon$40,0004,245,901
Maine$47,5001,342,097
South Carolina$58,255$116,5105,147,111
Nebraska$60,0001,940,919
New Mexico$60,000$120,0002,096,034
Alaska$72,900735,720
California$75,000$100,00039,747,267
Colorado$75,000$150,0005,770,545
Connecticut$75,000$150,0003,567,871
Mississippi$75,0002,987,895
Wisconsin$75,000$150,0005,832,661
Idaho$100,0001,790,182
New Hampshire$100,0001,363,852
North Dakota$100,000760,900
Delaware$125,000975,033
Vermont$125,000$250,000627,180
Washington$125,0007,666,343
Ohio$136,92511,718,568
Arizona$150,0007,275,070
New York$165,550$331,10019,491,339
Montana$250,0001,074,532
Minnesota$390,0005,655,925
Massachusetts$500,0006,939,373
Rhode Island$500,0001,056,738
Nevada$550,0003,087,025
ArkansasUnlimited3,026,412
District of ColumbiaUnlimited711,571
FloridaUnlimited21,646,155
IowaUnlimited3,167,997
KansasUnlimited2,910,931
OklahomaUnlimited3,948,950
South DakotaUnlimited892,631
TexasUnlimited29,087,070