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Resources (Rules on resource limits)
Households may have $2,000 in countable resources, such as a bank account,
or $3,000 in countable resources if at least one person is age 60 or
older, or is disabled.
However, certain resources are NOT counted, such as a home and lot, the
resources of people who receive Supplemental Security Income (SSI),
the resources of people who receive Temporary Assistance to Needy Families
(TANF) (formerly AFDC), and most
retirement
(pension) plans.
Licensed vehicles are NOT counted if they are:
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used for income-producing purposes,
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annually producing income consistent with their fair market value,
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needed for long distance travel for work (other than daily commute),
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used as the home,
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needed to transport a physically disabled household member,
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needed to carry most of the household's fuel or water, or
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if the household has little equity in the vehicle (because of money
owed on the vehicle, it would bring no more than $1,500 if sold).
For the following licensed vehicles, the fair market value over $4,650
is counted:
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one per adult household member, and
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any other vehicle a household member under 18 drives to work, school,
job training, or to look for work.
For all other vehicles, the fair market value over $4,650 or the equity
value, whichever is more, is counted as a resource.
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one per adult household member, and
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any other vehicle a household member under 18 drives to work, school,
job training, or to look for work.
For all other vehicles, the fair market value over $4,650 or the equity
value, whichever is more, is counted as a resource.
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