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Refer to IX.H.5. & 6. for detail instructions when the a/b owns more than one piece of income producing property. C. STEP 1: Determine the Equity Value of the Property Based on the Tax Value: Current Market Value (CMV) – Encumbrances/liens = Equity Value. 1. Real Property Value Real property includes land and everything attached to it that produces rent or land use fees, such as mineral or timber rights, trailer rent, hunting/fishing rights, mortgages, rent of buildings, etc. The CMV is the tax value of the land. Always use the tax value (unless rebutted) for the following: a. When determining equity of income producing property for the $6,000 portion of the $6,000/6% test. b. When counting real property as a resource, use the tax value to calculate the countable equity value. 2. Personal Property Value Use the CMV as determined in VIII. to determine the equity. 3. Subtract the encumbrances (loans, mortgages, liens) on the property (Refer to VII.D.3.) from the CMV. (Refer to IX.C.1.) The result is the equity value of the property to use in determining the value of the property for the $6,000 exclusion. D. STEP 2: Determine if the A/B is Ineligible Based on Countable Resources, Regardless of the 6% Net Annual Income Test. 1. From the total equity value of all property alleged to be income producing, deduct $6,000. 2. Add the remaining equity value to the value of all other countable resources. a. If the resulting total of countable resources exceeds the resource limit, the a/b is ineligible. Proceed no further. Notify the a/b via the DHB­ 5097/DHB-5097S, Request for Information, of his opportunity to rebut the value of resources and to reduce resources, as instructed in I.A.5. If proof of rebuttal or reduction of resources is not provided within 12 calendar days, deny or send advance notice proposing termination. b. If the resulting total of countable resources does not exceed the 55