Riverside County tax assessment tops $400 billion

The taxable value of all property in Riverside County reached $404 billion as of Jan. 1, a nine percent year-over-year increase.

That was the first time that number topped $400 billion and the second consecutive year the county’s tax assessment valuation recorded a nine percent annual growth rate, according to a statement on the county’s website.

“Surpassing the $400 billion mark is a historic achievement for Riverside County,” said Peter Aldana, the county’s assessor, in the statement. “It signifies the remarkable growth of our county and reflects the confidence individuals, businesses, and investors have in our region.”
Riverside County’s assessment valuation was $35 billion more than it was heading into 2022.

This year’s tax roll is expected to generate about $4 billion to pay for local government services, according to the statement.

The median home price in Riverside County grew to $615,000 in 2022, a 9.1 percent compared with 2021, according to the California Association of Realtors.