Credit: (source: zillow.com)

S. E. Williams |

Strong demand for real estate in the Inland Empire led to a 9.26% increase in assessed values in Riverside County entering  2022, according to the County Assessor-County Clerk-Recorder, reflecting the highest increase in assessed value since 2007 when values rose more than 16%.

Riverside CountyAssessor-County Clerk-Recorder Peter Aldana announced on Monday that the total taxable value of all property in the county for the current year grew to over $369 billion, a $31 billion increase. 

The good news is this year’s tax roll—a list of all taxable property, its owner, and its value as of Jan. 1—will generate roughly $3.5 billion for local government services.

According to Riverside CountyAssessor-County Clerk-Recorder Peter Aldana the total taxable value of all property in the county for the current year grew to over $369 billion, a $31 billion increase. (source: rivcoacr.org/)

“With such an active and appreciating real estate market this past year, our roll reflects the market conditions for property owners in Riverside County,” Aldana said. “As values go up, the tax base grows, which helps keep our county financially strong. I want to thank the coordinated team effort that completed the assessment roll on time once again during another very busy year.”

The California Association of Realtors reports the median home price in Riverside County grew to $586,000 in December 2021, setting a record high for any December.

Despite the increase in home prices, most property owners will not see an equal rise in property taxes on their next annual tax bill, which will be mailed in October. This is because state law requires the assessor to enroll real property at the lesser of its current market value or the Prop 13 value—the market value as of the date the property was acquired or constructed, adjusted up to 2% annually for inflation. 

According to officials, eighty-four percent of Riverside County property is enrolled at its protected Prop 13 value. For more information please click here.

Property owners may review their 2022 assessment roll value by visiting the Riverside County Assessor public access online services website at Assessor Online Services or calling (951) 955-6200. 

Although the Assessor works to enroll fair-market values, an owner might disagree with the valuation. Those owners may file a free decline-in-value application online. Applications are due by Nov. 1 and are available at Decline in Value Application.Property owners also may request a formal hearing before the Assessment Appeals Board. The deadline to file is Nov. 30. The application is available on the Clerk of the Board’s website at Assessment Appeals Online.

S.E. Williams

Stephanie Williams is executive editor of the IE Voice and Black Voice News. A longtime champion for civil rights and social justice in all its forms, she is also an advocate for government transparency and committed to ferreting out and exposing government corruption. Over the years Stephanie has reported for other publications in the inland region and Los Angeles and received awards from the California News Publishers Association for her investigative reporting and Ethnic Media Services for her weekly column, Keeping it Real. She also served as a Health Journalism Fellow with the USC Annenberg Center for Health Journalism. Contact Stephanie with tips, comments. or concerns at myopinion@ievoice.com.