New York Homestead Exemption
Real property including co-op, condo, or mobile home, to $179,975 for the counties of Kings, New York, Queens, Bronx, Richmond, Nassau, Suffolk, Rockland, Westchester, and Putnam; $149,975 for the counties of Dutchess, Albany, Columbia, Orange, Saratoga, and Ulster; $89,975 for the remaining counties in the state. (husband & wife may double)
89,795 to 179,975 depending on county
150,000 to 300,000 depending on county
NOTE: Residency Requirement Caps Maximum Homestead at $160,375 if you've recently moved to a State that allows more than that
Under the 2005 bankruptcy law, you must be have lived in the state for at least 40 months (3 years + 4 months) before you can claim any homestead protection greater than $160,375. (If your state's exemption offers less than this amount, the law is irrelevant to you.) .
Federal Non-Bankruptcy Homestead Exemptions (available in every State)
These are exemptions under federal law, and not part of the bankruptcy code, so states cannot "opt out" from these exemptions.-
US Bankruptcy Code § 522(d) Homestead Exemption
Can a New York debtor use the Federal Bankruptcy exemptions instead of New York exemptions?
Yes. N.Y. Debt. & Cred. Law § 285
The Federal Bankruptcy Exemptions under 11 U.S.C. § 522(d) are available to you if
- you haven't lived in any state longer than 180 days for a while,
- if your state allows the Federal exemptions as a choice.
Home Valuation tool
Just add your street address to get an estimate of the value of your house, and all others in your neighborhood. (Note: Does not serve all areas, and valuations are imperfect estimates only.)