§ 2-29-121. Reduction in accordance with Florida Constitution and Florida Statutes.

Manatee County hereby provides, pursuant to the provisions of Section 193.703, Florida Statutes, as currently enacted or as may be amended, a reduction in the assessed value of homestead property when the value of that property increases as a result of construction or reconstruction of the property for the purpose of providing living quarters for one or more natural or adoptive parents or grandparents of the owner of the property or of the owner's spouse and provided at least one such parent or grandparent is at least sixty-two (62) years of age. Such reduction is limited to the lesser of (i) the increase in the assessed value of the property resulting from the construction or reconstruction or (ii) twenty (20) per cent of the total assessed value of the property as improved.

(Ord. No. 05-74, § 2, 12-12-05)