Authorizes a town with a population between 69,000 and 69,500 to enact a homestead exemption

This bill authorizes the town of Southampton (with a 2020 census population between 69,000 and 69,500) to create a homestead property tax exemption for residents. It allows eligible homeowners to reduce their local property tax bill by up to $50,000 in assessed value, using the same eligibility rules as the existing STAR school tax relief program. The exemption requires property owners to apply annually through a town-assessor process. It does not change tax rates but provides a targeted break for qualifying homeowners in this specific town.