News
Report: Countywide Property Tax Roll Reaches $404 Billion
RIVERSIDE (CNS) – Property values throughout Riverside County rose nearly 10% last year to $404.2 billion, with houses and commercial structures making up the largest share of the valuation, according to a report released Thursday by the Assessor-Clerk-Recorder’s Office.
“Surpassing the $400 billion mark is a historic achievement for Riverside County,” Assessor-Clerk-Recorder Peter Aldana said. “It signifies the remarkable growth of our county and reflects the confidence individuals, businesses and investors have in our region.”
The county’s property tax assessment roll for the most recent base year, valued as of Jan. 1, was 9.4% higher than in 2022, when the roll totaled $369.62 billion, according to the Assessor-Clerk-Recorder’s Office.
The assessment roll represents the composite value of all commercial and residential real estate within the county, as well as other property, including boats, aircraft and timeshares.
Aldana said that property tax receipts this year are expected to total about $4 billion.
The roll has increased for the last 11 consecutive years. During the Great Recession, $38 billion in value was lost, with assessments bottoming out at $204.8 billion in tax year 2012, according to the assessor’s report.
The roll was valued at $242.9 billion in 2008, before the deflationary cycle triggered by the economic downturn.
In the most recent assessment, residences and commercial structures represented $282 billion, or 70%, of the roll.
Aggregate property values increased by the widest margin, in percentage terms, in the unincorporated Palo Verde Valley, where net taxable valuations totaled $1.48 billion, compared to $1.02 billion the year before — translating to a 45% jump.
Among municipalities, Desert Hot Springs showed the strongest percentage growth at 14.8%. The city’s net taxable valuations totaled $2.92 billion, compared to $2.54 billion during the prior base year calculation.
The city of Riverside had the highest local roll value — $42.8 billion – – of all the cities and unincorporated communities listed.
According to the assessor’s office, property tax bills for the current tax year will start going out in October. Officials noted that almost 85% of residences countywide are under Proposition 13 tax mitigation protection, meaning that regardless of the inflation rate, taxes can only go up on an additional 2% of tax increment.
Homeowners have the right to appeal any increased assessment. More information is available at the Clerk of the Board’s website: https://aao.countyofriverside.us/.
Copyright 2023, City News Service, Inc.
By: Pristine Villarreal
July 13, 2023
Latest Instagram Posts
Alice B. has announced it’s closing its doors. It’s cozy atmosphere and unique seasonal menu made it a must try and even landed it in the Michelin guide. @susanfeniger and @marysuemilliken left their mark on the desert over at Living Out and it will be missed. Here’s a clip from one of our last interviews with Susan.
Cathedral City City Council votes to rename “LGBT+ Days” to “Cathedral City Pride”. The council approved the change in a 5-0 vote during its latest meeting, updating the official name of the city’s annual celebration. Stay tuned with NBC Palm Springs to see what this means to the Coachella Valley Community #CathedralCity #pride #CityCouncil #CoachellaValley #LocalNews
Discover the Coachella Valley with the Everything Palm Springs app. From iconic attractions and hidden gems to local restaurants, shops, entertainment and even filming locations, the map-based app is designed to help both visitors and locals find more of what the desert has to offer. Creator Lindsay Kinkle is also expanding the app with video tours and narrated guides, giving users another way to explore Palm Springs and the surrounding communities. Local businesses like Buena Matcha are also getting a chance to connect with new customers through the platform. As Lindsay says, there’s so much to do and enjoy here — you just have to know where to look. #PalmSprings #CoachellaValley #EverythingPalmSprings #PalmSpringsApp #VisitPalmSprings DesertLife LocalBusiness CoachellaValleyBusiness NBCPalmSprings
Social Time with Thalia & Jerry
What’s next for Palm Desert? Join community leaders, local businesses and regional stakeholders for the 2026 State of the City Address. Topics: • Economic Development • Infrastructure • Public Safety • Community Programs • Palm Desert’s Future CTA: Friday, September 18 | 11:30 AM JW Marriott Desert Springs Resort
Former Silvercrest CEO, William Rodriguez is expected back in court today in connection with the deadly 2024 Cathedral City hit and run that killed a woman. The murder charge was dismissed, but Rodriguez still faces felony hit and run and suspended license charges.
Social Time with Thalia & Jerry
Murder suspect Vicky Kim has once again not been cleared to appear in court. Kim is accused of killing her husband at their Palm Desert condominium complex. Her arraignment has now been delayed three times. Stay tuned with NBC Palm Springs as we track the latest developments in this case. #VickyKim #PalmDesert #CoachellaValley #BreakingNews #CourtUpdate NBCPalmSprings
Palm Springs is mourning the loss of beloved entertainer James “Gypsy” Haake, who has died at 94. Haake began his entertainment career at just 19 years old as a Broadway chorus dancer. After retiring from the stage, he returned to performing at 82, becoming the host of Carnival Cabaret at Oscars in downtown Palm Springs. A longtime friend of our station, Haake was a familiar and beloved figure in the Palm Springs entertainment community — and his contributions were recognized with a star on the Palm Springs Walk of Stars. His career spanned more than seven decades, proving that the spotlight never truly left him. ❤️ Rest in peace, James “Gypsy” Haake. Your legacy will live on in Palm Springs. #JamesGypsyHaake #PalmSprings #PalmSpringsWalkOfStars #CarnivalCabaret #PalmSpringsEntertainment #OscarsPalmSprings #PalmSpringsHistory
Social Time with Thalia & Jerry