Adjustments of Dollar Amounts
Updated June 29, 2026 - The amount of a deficiency judgment found in Minnesota Statutes, Section 325G.22, property exempt from creditor collection action in Minnesota Statutes, Section 550.37, and the homestead exemption in Minnesota Statutes, Section 510.02 will increase effective July 1, 2026. These statutes require that the dollar amounts be adjusted in even numbered years based on a percentage change in the Implicit Price Deflator for the Gross Domestic Product. On May 6, 2026, an Official Notice was published on the Department of Commerce’s website which contained incorrect adjusted amounts. On April 27, 2026, the Department of Commerce published the incorrect adjusted amounts in the Minnesota State Register. The correct adjusted amounts are contained within this Official Notice and will be published in the Minnesota State Register on June 29, 2026, and on the Department of Commerce’s website. The adjusted amounts contained in this Official Notice shall be used from July 1, 2026, onward.
Statute establishes that the percentage of change from the reference base index be 10% or more in order to adjust the dollar amounts (See Minnesota Statutes, Section 550.37, subd. 4a). The portion of the percentage change in the index in excess of a multiple of ten percent is to be disregarded, and dollar amounts shall change only in multiples of ten percent. Information obtained from the U.S. Department of Commerce, Bureau of Economic Analysis, indicates the percentage change from the revised reference base to be 42% calculated to the nearest whole percentage point as required. The index for December 2011 is the reference base index for adjustments. The index was revised nationally to 2009 = 100. The index was again revised nationally to 2012 = 100. The rebased index for December 2011 is 91.985, increasing to 130.651 in December 2025, for a change of 42%.
The history of dollar amounts at various dates is available by reviewing prior official notices, or within the Commerce Department’s web site Adjustments of Dollar Amounts / Minnesota Department of Commerce - Money (mn.gov). The original and current dollar amounts are as follows:
| Adjustments of Dollar Amounts | Original | 7-1-2026
10% Increase |
|---|---|---|
| Chapter 325G | ||
| Credit Extended
Minnesota Statute §325G.22, subd.1 |
3,000 | $8,400 |
| Chapter 550 | ||
| Sacred Possessions
Minnesota Statute §550.37, subd.2 |
$2,000 | $2,200 |
| Personal Library
Minnesota Statute §550.37, subd.2a |
$750 | $825 |
| Musical Instruments
Minnesota Statute §550.37, subd.2b |
$2,000 | $2,200 |
| Family Pets
Minnesota Statute §550.37, subd.2c |
$1,000 | $1,100 |
| Personal Goods
Minnesota Statute §550.37, subd.4 |
$4,500 | $12,600 |
| Jewelry
Minnesota Statute §550.37, subd.4 |
$1,225 | $3,430 |
| Business Tools of Trade
Minnesota Statute §550.37, subd.6 |
$5,000 | $14,000 |
| Insurance Proceeds
Minnesota Statute §550.37, subd.10 |
$20,000 | $56,000 |
| Additional Dependent
Minnesota Statute §550.37, subd.10 |
$5,000 | $14,000 |
| Motor Vehicle
Minnesota Statute §550.37, subd.12a(1) |
$2,000 | $10,200 |
| Motor Vehicle Regularly Used for Benefit of a Disabled Person
Minnesota Statute §550.37, subd.12a(2) |
$25,000 | $27,000 |
| Motor Vehicle Designed or Modified for Disability
Minnesota Statute §550.37, subd.12a(3) |
$100,000 | $110,000 |
| One Motor Vehicle Reasonably Necessary for Use in the Trade, Business or Profession of the Debtor
Minnesota Statute §550.37, subd.12a(4) |
$12,500 | $13,750 |
| Life Insurance Aggregate Interest
Minnesota Statute §550.37, subd.23 |
$4,000 | $11,200 |
| Employee Benefits
Minnesota Statute §550.37, subd.24 |
$30,000 | $84,000 |
| Health Savings Accounts
Minnesota Statute §550.37, subd.26(a) |
$25,000 | $35,000 |
| Medical Savings Accounts
Minnesota Statute §550.37, subd.26(b) |
$25,000 | $35,000 |
| Household Tools and Equipment
Minnesota Statute §550.37, subd.27 |
$3,000 | $3,300 |
| Wild Card Exemption in Bankruptcy
Minnesota Statute §550.37, subd.28 |
$1,500 | $1,650 |
| Chapter 510 | ||
| Homestead Exemption
Minnesota Statute §510.02, subd.1 |
$300,000 | $540,000 |
| Homestead for Agricultural Purposes
Minnesota Statute §510.02 subd.1 |
$750,000 | $1,350,000 |
The next published adjustment is scheduled on or before April 30, 2028, for July 1, 2028 based on the December 2027 index.
Historic Adjustments, Restrictions on Deficiency Judgements and Minnesota Property Exemption (.pdf)