When there is a possibility that the value of personal property will affect eligibility, verify its value.
- Compute the value of livestock and farm surpluses by multiplying the number or quantity by the currently quoted market prices.
- Determine the value of non-exempt automobiles on the basis of value as quoted in auto dealer’s NADA or Blue Book. Accept the claimant’s statement of value if the vehicle is no longer listed in the NADA or Blue Book and is not questionable.
- Determine the value of household goods, jewelry, and farm or business machinery or equipment on the basis of a joint estimate made by the worker and claimant. In cases it may be advisable to obtain a paid appraisal, as is done for some real property.
When there is little probability that the value of personal property, added to the value of other available resources, will affect the claimant’s eligibility the claimant’s statement is sufficient verification.