NY A06011

Allows nonprofit organizations to apply for tax exemptions on real property purchased after the taxable status date or tax levy, if the local municipality adopts a local law, ordinance, or resolution permitting such exemptions.

Requires nonprofits purchasing property after tax levy to file exemption applications with the assessor by a deadline set by the municipality, with the assessor determining if the property would have qualified for exemption on the original tax roll.

Permits nonprofits purchasing property after the taxable status date but before tax levy to file applications within 30 days of title transfer, with assessor determinations made within 30 days of receipt.

Grants pro rata tax exemption credits calculated by multiplying applicable tax rates by the exempt amount and the fraction of the fiscal year remaining after the property transfer, with municipalities including credits in their budgets and applying them to reduce taxes owed.

Establishes a 30-day notification process for assessors to inform applicants of exemption determinations and allows applicants to file complaints with the Board of Assessment Review within 20 days for administrative review of the exemption amount.