The Trusted Adviser September 2010 | Volume 3 • Number 8

Legislative Updates


Homestead Exemptions

2009 Wisconsin Act 80(formerly 2009 Senate Bill 259). Effective Date: December 16, 2009. Amends portions of Wis. Stat. &§&§ 815.18, 815.20, and 815.21.

This new Wisconsin legislation increases the value of the allowable exemption in various types of property.

Wisconsin Statutes Section 815.20 allows an exemption of a homestead. The new act increases the homestead exemption from $40,000 to $75,000. Also, whereas a couple previously had to divide the exemption amongst themselves for a total of not more than $40,000 for the homestead, the new act allows that "each spouse may claim a homestead exemption of not more than $75,000." Therefore, a single homestead may be exempt up to $150,000 for a couple. The new act also updated Section 815.21, providing for a landowner to set property apart from a levy, to reflect the increased homestead exemption.

Additional changes are made to Section 815.18.






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[Last update: 8-25-10]