IE Business Daily Business news for the Inland Empire.
Riverside County reported $432.9 billion in assessed property values for 2024, a 7.1 percent increase compared with last year, the assessor’s office has reported.
That figure includes all property within the county’s 28 cities and unincorporated areas that is eligible for assessment, according to a statement recently released by Peter Aldana, the assessor-county clerk-recorder.
“Despite a reduction in property transfer volumes, home prices held steady, with the median home price now at $618,000,” the statement reads. “The resilience of the commercial and industrial sectors has also positively impacted the overall assessed value. This year’s 7.11 percent increase … was largely due to new construction throughout the county, which added considerable value to the assessment roll.”
Secured property values – land, structures, fixtures, and private property – reached $417.88 billion, a seven percent year-over-year increase. Land values were assessed at $113.89 billion, a 6.2 percent increase during that time, assessor’s office reported.
