Grants a total exemption from real property taxation for school tax purposes for certain persons seventy-five years of age or over

This bill creates a property tax exemption for school taxes for homeowners who are at least 75 years old, or for couples where one partner is 75 and the other is at least 65. To qualify, the owners must have lived in the school district for at least 30 years without having any children enrolled there, and the property must be their primary residence. The exemption applies to one-to-three-family homes, farm dwellings, and certain condominiums or cooperatives, with income limits set at $60,000 that adjust annually based on cost-of-living increases. Local municipalities must pass their own laws to adopt the program, and the bill includes provisions for verifying income through state tax records to reduce the paperwork required from applicants.