Report: Countywide Property Tax Roll Reaches $460 Billion

RIVERSIDE (CNS) - Property values throughout Riverside County rose 6%
last year to $460.15 billion, with residences and commercial structures making
up the largest share of the valuation, according to a report released today by
the Assessor-Clerk-Recorder's Office.
  

The county's property tax assessment roll for the most recent base
year, valued as of Jan. 1, was $27.18 billion more than in 2024, when the roll
totaled $432.97 billion, according to the Assessor-Clerk-Recorder's Office.
  

Inflationary pressures, attributable in part to limited available
housing inventory, have factored into the property tax expansion throughout the
region and elsewhere for years, according to economists.
  

The assessment roll represents the composite value of all commercial
and residential real estate within the county, as well as other property,
including farmland, boats, aircraft and timeshares.
  

The roll has increased for 13 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
had been valued at $242.9 billion in 2008, before the deflationary cycle
triggered by the economic downturn.
  

In the most recent assessment, residences, counted as single-family
houses, apartments and condominiums, along with commercial structures,
represented $419.8 billion, or 90%, of the roll. There were a total 970,645
secured parcels and 37,964 unsecured assessments counted in the previous year,
officials said.
  

Aggregate property values increased by the widest margin, in
percentage terms, in the unincorporated community of Romoland, where net
taxable valuations totaled $1.61 billion, compared to $1.18 billion the year
before -- translating to a 36% jump.
  

Among municipalities, Menifee showed the strongest percentage growth
at 11.7%. The city's net taxable valuations totaled $14.3 billion, compared to
$13.7 billion during the prior base year calculation.
  

As with every year, the city of Riverside had the highest local roll --
$47.37 billion -- of all the cities and unincorporated communities listed.
In the Coachella Valley, Palm Desert boasted the biggest aggregate assessment
at $21.69 billion.
  

The Board of Supervisors is slated to review the valuation report
during its July 29 meeting.
  

According to the assessor's office, property tax bills for the current
tax year will start going out in October. Officials noted 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 at
aao.countyofriverside.us/.
  

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