This bill amends the current property tax exemption process for certain organizations, allowing them to file for exemptions just once. The new legal language specifies that once an application is accepted and approved, it will be treated as a permanent application, meaning the organization will continue to receive the exemption unless a town assessor determines that they are no longer eligible. The bill also introduces requirements for annual field reviews of qualifying properties by assessors to ensure continued eligibility, and mandates that applicants provide additional information as requested at least once every five years, or annually if required.

The bill modifies the existing law by changing the section heading from "Annual List" to "Exemption List" and includes several insertions to clarify the process. For instance, it allows organizations that miss the April 15 filing deadline due to unforeseen circumstances to submit their applications later, while also establishing that failure to file can lead to denial of the exemption. The fiscal impact is expected to result in an indeterminable increase in local expenditures, estimated to be less than $10,000 per municipality, as local assessors will need to allocate additional hours for the required field reviews, although some costs may be offset by reduced processing expenses.

Statutes affected:
Introduced: 72:23-c
HB1756 text: 72:23-c