County's Property Tax Roll Rises Six Percent: Report

RIVERSIDE COUNTY, CA — Property values throughout Riverside County rose by 6.2 percent last year, according to a report that will be reviewed Tuesday by the Board of Supervisors.

The county's property tax assessment roll was $286 billion, compared to $269.1 billion in the Jan. 1, 2017, assessment, according to the Assessor- Clerk-Recorder's Office.

The assessment roll, which represents the composite value of all commercial and residential real estate within the county, has increased for the last six 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 was valued at $242.9 billion in 2008, before the deflationary cycle triggered by the economic downturn.

In the most recent assessment, aggregate property values increased by the widest margin, in percentage terms, in the unincorporated community of Val Verde, bordering Moreno Valley, where valuations totaled $1.8 billion, compared to $1.54 billion the year before -- translating to an 18 percent jump.

Among incorporated municipalities, Perris showed the strongest percentage growth at 11 percent. The city's valuations totaled $6.2 billion, compared to $5.59 billion during the prior base year valuation.

The city of Riverside had the highest net taxable value -- $29.85 billion -- of all the cities and unincorporated areas listed on the tax roll.

The Board of Supervisors predicated the county's 2018-19 fiscal year budget, in part, on anticipated higher property tax receipts.

According to the assessor's office, property tax bills for 2019 will start going out in October.

Homeowners have the right to appeal any increased assessment. More information is available at the Assessor-Clerk-Recorder's website: http://www.asrclkrec.com/ . Appeals are due by Nov. 30.

— By City News Service /Image via Shutterstock