Home equity when filing?

[Maquis]

Here in MN, I can choose state or federal exemptions. One of the big differences in home equity allowed as an exemption.

How does the court tell how much equity I have in my home? Do they go off the last appraised value (which is quite old), or off of value determined on our property tax statement?

We have some equity, and depending on the home value, equity may be greater than federal exemptions. I want to know when we prepare to fill out the forms.

[HHM]

Current market value. You will tell the court how much the home is worth after doing a little research. Although Zillow can be wildly inaccurate, start there. If Zillow comes in where you need it to be, then you don't need to go any further. If Zillow is too high, then you might need a market analysis from an real estate agent to get a better idea.