| Permits a governing board of a municipality, after a public hearing and by the adoption of a local law, ordinance or resolution, to exempt from real property taxation for school purposes, real property owned by one or more persons each of whom is 75 years of age or over, or real property owned by a husband and wife, one of whom is 75 years of age or over and the youngest owner is at least 65 years of age, and have resided in such school district for at least 30 years and do not have any children enrolled in such school district; creates eligibility and income standards. |
