See Where Property Values Increased In Riverside County, Up 6%

RIVERSIDE COUNTY, CA — Property values throughout Riverside County have risen over the past year experts say.

Housing values county-wide increased 6% to $460.15 billion since 2024, with residences and commercial structures accounting for the largest share of the valuation, according to a report released on Thursday 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 report.

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

Inflationary pressures, attributed to a limited housing inventory, contributed to property tax expansions throughout the region and elsewhere for years, according to economists. This is the 13th consecutive year the roll has shown an increase.

During the Great Recession, $38 billion in property value was lost, as assessments bottomed 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, according to the assessor's report.

This year, owned residences, including single-family houses, apartments and condominiums, together 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.

So, where in the county is seeing the most growth?

According to the county assessor, Menifee has shown the most substantial percentage growth at 11.7%. In the report, Menifee's net taxable valuations totaled $14.3 billion, compared to $13.7 billion during the prior base year calculation.

The city of Riverside, as typical, had the highest local roll with $47.37 billion in taxable valuations among 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 scheduled to review the valuation report during its meeting on July 29.

According to the assessor's office, property tax bills for the current tax year will start going out in October.

Nearly 85% of all Riverside County residences 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.