NY A03038

Allows homeowners in Onondaga County to apply for an exemption from increases in assessed value on their primary residence, with municipalities required to adopt a local law to participate.

Requires municipal assessors to establish market value annually and municipalities to notify residential property owners of the exemption eligibility through tax bills or notices.

Mandates annual postcard notices to property owners receiving the exemption at least 60 days before the taxable status date, informing them of continuing eligibility requirements.

Permits senior citizens to designate an adult third party to receive renewal notices and removal warnings regarding the exemption, with the assessor maintaining a list of such designations.

Takes effect immediately and applies to all assessments issued after the effective date.