§ 495. Exemption reports. 1. Whenever a county, city, town, village or
school district is required to prepare an annual budget, the official
required to prepare a tentative or preliminary version of that budget
shall annex thereto an exemption report. This report shall be on a form
prescribed by the commissioner and shall show how much of the total
assessed value on the final assessment roll or rolls used in that
budgetary process is exempt from taxation. This report shall list every
type of exemption granted, identified by statutory authority, and shall
show (a) the cumulative impact of each type of exemption expressed
either as a dollar amount of assessed value or as a percentage of the
total assessed value on the roll, (b) the cumulative amount expected to
be received from recipients of each type of exemption as payments in
lieu of taxes or other payments for municipal services, and (c) the
cumulative impact of all exemptions granted. Exemptions that result in
an impact of less than one percent may be aggregated as a single entry.
In no case shall an individual exemption recipient be named in the
report.

2. Notice of this report shall be included in any notice of the
preparation of the budget otherwise required by law. The report shall be
posted on any bulletin board maintained by the budgeting authority for
public notices and on any website maintained by the budgeting authority.
This report shall be annexed to any tentative or preliminary budget and
shall become part of the final budget.