Section 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 state board 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.