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MEDICAL SERVICES POLICY MANUAL, SECTION E

E 514 Determining Equity Value

• The value would cause total resources to exceed countable resource limitations (Re. MS E-502); • The individual can dispose of the property; and • It does not qualify for exclusion. If these conditions are met, with the exception of alleged value (i.e. the individual is unable to provide an estimate), the caseworker will ask if the property would sell for at least the individual/couple’s resource limit, as appropriate. If he alleges that it would, the caseworker will initiate action to deny or close. When the individual’s alleged value does not cause resources to exceed countable resource limitations or result in potential conditional eligibility, determine property value using one of the methods indicated below: 1. Determine the value based on the tax assessment. Multiply the assessed value (AV) by five. The AV used in this determination will be the current assessed value on record at the County Assessor’s Office in the county where the property is located. If the individual does not have documentationof the current AV, the caseworker will contact the County Assessor to obtain the current AV. If the value based on the AV results in eligibility, the caseworker will proceed with the determination. If the value based on the AV causes ineligibility, the caseworker will initiate action to deny or close unless the individual wishes to obtain a knowledgeable source estimate to rebut the value. If the individual obtains an estimate from a knowledgeable source, the CMV will be determined in accordance with #2 below.

2. Determine the CMV based on an estimate from a knowledgeable source. The individual will be asked to obtain the estimate. The estimate must be written, signed, and have enough information so the source can be identified. It must be specific as to the point in time for which the estimate is effective. Knowledgeable sources include: a. Real estate brokers; b. Local office of the Farmer’s Home Administration (for rural land); c. Local office of the Agricultural Stabilization and Conservation Service (for rural land);