The Village of Mamaroneck hereby adopts the
provisions of § 467-b, as amended, of the Real Property Tax Law
of the State of New York. Hereinafter, there shall be provided a tax
abatement in accordance with Real Property Tax Law § 467-b for
real property in the Village of Mamaroneck containing rent-regulated
apartments that constitute dwelling units as that term is defined
in Real Property Tax Law § 467-b, Subdivision 1a, where the combined
income of members of the household containing senior citizens 62 years
of age or older or persons who qualify as disabled as that term is
defined in § 467-b, Subdivision 5, of the Real Property Tax Law
of the State of New York does not exceed $50,000 and, as required
by § 467-b of the Real Property Tax Law of the State of New York,
the benefits of such abatement are passed on to such senior citizens
or disabled persons.