Explain that this is a term in old-style language (not Old English, but an older form of it).
“Owns” means to recognize, as when you “own up” to something.
Deity = God; “nigh” = near.
Incense is used as a sacrifice before God.
So “Incense owns a deity nigh” means that the Magoi brought incense because they understood that Baby Jesus was God Himself with them. Something that not everybody gets, even 100 generations later.
ICXC NIKA