The Texas Senate passed a $16.5 billion property tax relief package unanimously. It was in four separate bills. One of the bills raises the homestead exemption from $30,000 to $70,000. Now those over 65 will receive over $100,000 in the homestead exemption. The average homeowner will receive around $800 in yearly tax relief, and seniors will get over $1,000 off their tax bills. The legislation is currently in the Texas House of Representatives, awaiting approval.