The Homestead Property Tax Exemption (submitted by Arlington’s own Senator Whipple), will make homeowners eligible for up to a 20% rebate on their property tax assessments each year from local governments. The bill must be approved by Congress before it can go to Virginia residents for vote (in the November 4th election). The major point of this bill is a tax relief to homeowners, and a larger burden on commercial property owners. See the complete article and more detail on the Washington Post.