CalWORKs Policy - Department of Public Social Services

application, the personal property:
• Is jointly owned by the applicant and a
member of the former household from which
the applicant fled, and
• The access to the resource/property
requires the consent of both the applicant
and the member of the former household.
See FS 63-501.1 Resource Determination for
more information.
42.215 - Determining Value
of Property
How is the value of a motor vehicle
determined?
When a family has more than one vehicle, the
use of each vehicle must be examined to
determine whether the vehicle is excluded as a
resource or whether the excess value is applied
to the property/resource limit using the excess
Fair Market Value (FMV) or Equity Value (EV).
EXAMPLE:
A household has a car with a FMV of $5,500
will have the current vehicle exclusion limit
($4,650) excluded and $850 applied towards
the property/resource limit.
LEADER will determine the following:
• Licensed/unlicensed vehicles are excluded if
the EV (i.e., the FMV minus encumbrances,
repairs/damages) is $1501 or less.
• After applying all other vehicle exclusions,
each adult household member can have one
licensed vehicle exempted from the equity
test. Only the value above $4650 is
counted.
• Additionally, each household member under
age 18 can have one licensed vehicle
exempted from the equity test when the
vehicle is used to drive to work, school, and
training or to look for work.
What steps are used in determining the
Excess Value (EV) of a motor vehicle?