This dollar amount is the AVERAGE of the monthly median for January through December 2020. As of now, the median for the whole year of 2020 is not, to our knowledge, available.
There is a difference between “average,” which is the total sales amount divided by the number of sales. However, the “median” amount is where half of all homes sold are above that amount, and half of the homes sold are below.
“Median sale price” and “Average sale amount” are NOT the same. Until the actual 2020 Median amount is available, this formula is the best estimate of what that amount could be. The amount obtained at least has a mathematical basis for arguing that it should be used at this time.
NOTE: It has come to my attention that a few of these monthly Median Sale Amount numbers have changed slightly and may continue to change. Why these adjustments are there is unknown but believed to be corrections as to individual home sales. These are nominal changes at most and, over the 12 months, appear to have a negligible effect on the totals.
There is no guarantee that any Bankruptcy Judge, Trustee, or creditor will accept the final “exempt amount” as being accurate. However, Judges and bankruptcy attorney’s feedback seems to be favorable as long as the dollar exemption has a reasonable basis.
All exemptions are 100% accurate for counties with homes exceeding $600,000 in median value, which is the maximum homestead exemption. Counties with homes below $300,000 in median value have at least a $300,000 exemption and may even be much higher.
You agree that you have read and understood the information, limitations, and issues explained above by using the Dollar amounts provided on this page. Using the amounts and methodology provided for your county below, you acknowledge using the dollar amounts provided at your own risk. Neither Gary Ray Fraley, Esq. nor Fraley & Fraley P.C. shall be liable for your use of these dollar amounts above for exemption purposes.
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