HB 375 amends the Texas Tax Code to extend appraisal value limitations currently applied to residence homesteads to all real property. The bill proposes a cap limiting annual increases in appraised property values for tax purposes to 3.5% from the previous year’s value. It repeals certain existing provisions specific to homesteads and adjusts appraisal and valuation processes to align with the broader application of these limitations. This change applies to tax years starting January 1, 2026, contingent upon voter approval of a related constitutional amendment.