[Adopted 12-26-1969 as Ch. 63, Art. I, of the 1969 Code]
The Tax Collector and the Tax Assessor of the Township of Colts Neck in the County of Monmouth are hereby directed to grant the tax exemption pursuant to N.J.S.A. 54:4-8.40 through 54:4-8.51, to those residents who so qualify under the provisions of said statute, and to apply said tax exemption in the amount permitted by statute to those residents who meet the prerequisites for said exemption.