TANF, SNAP, Children on TP 32 and Children on TP 56

Income-producing property is any real or personal property that generates income. Property is exempt if the property:

is essential to a household member's employment or self-employment, such as tools of a trade, farm machinery, stock, and inventory (this property continues to be exempt during temporary periods of unemployment if the individual expects to return to work);

annually produces income consistent with a fair market value comparable in the community, even if used only on a seasonal basis such as rental property (to determine that the income produced is comparable to the fair market value for similar usage of real property in the area, eligibility staff may contact local realtors, tax assessors, the Small Business Administration or similar sources); or

is necessary for the maintenance or use of a vehicle exempted as income-producing or as necessary for transporting a household member with a physical disability. The portion of the property used for this purpose is exempt.

Note : For farmers or fishermen, the value of land or equipment continues to be exempt for one year from the date that the self-employment ceases.