[Adopted 12-12-2000 by L.L. No. 11-2000, approved 12-27-2000]
Pursuant to Chapter 377 of the Laws of 2000 and § 469 of the Real Property Tax Law, and as provided under said section, this Body hereby authorizes an exemption from taxation to the extent of any increase in assessed value of residential property resulting from the construction or reconstruction of such property for the purpose of providing living quarters for a parent or grandparent who is 62 years of age or older.
