Michigan adjusts its exemptions for inflation every three years.
The revised 2023 amounts were published by the Michigan Department of the Treasury on January 25, 2023. They apply to cases filed on or after April 1, 2023, and are summarized here. The total increase for the period is 13.96%
Michigan Bankruptcy Exemptions Inflation Adjustments 2023
| MCL Citation | Original Value | 2020 Value | 2023 Value |
| 600.5451 (1) ( c ) Appliances, utensils, books, furniture, & household goods — per item |
$450 | $625 | $700 |
| 600.5451 (1) ( c ) Appliances, utensils, books, furniture, & household goods — TOTAL |
$3,000 | $4,050 | $4,625 |
| 600.5451 (1) (d) Church pew |
$500 | $700 | $800 |
| 600.5451 (1) (e) Crops, farm animals, and feed for the farm animals |
$2,000 | $2,700 | $3,075 |
| 600.5451 (1) (f) Household pets |
$500 | $700 | $800 |
| 600.5451 (1) (g) Motor Vehicle |
$2,775 | $3,725 | $4,250 |
| 600.5451 (1) (h) Computer & Accessories |
$500 | $700 | $800 |
| 600.5451 (1) (I) Tools of Trade |
$2,000 | $2,700 | $3,075 |
| 600.5451 (1) (m) Homestead — Regular |
$30,000 | $40,475 | $46,125 |
| 600.5451 (1) (m) Homestead — 65 or Older |
$45,000 | $60,725 | $69,200 |
Source: Michigan Department of Treasury January, 20, 2023 .
Annotations by LegalConsumer.com March 8,2023
