Riverside County Assessment Valuation Reaches $400B Milestone
August 3, 2023
Despite interest rate hikes, Riverside County has continued to see a strong demand for real estate which has led to a 9% increase in assessment valuation for the second year in a row. Peter Aldana, Assessor County Clerk Recorder for Riverside County, announced Monday, July 17th that the total taxable value of all Riverside County property for the current year grew to over $400 billion for the first time This was a $35 billion increase from the year prior. The tax roll will generate roughly $4 billion for local government services.
According to Aldana, this “is a historic achievement for Riverside County. It signifies the remarkable growth of our county and reflects the confidence individuals, businesses, and investors have in our region.” The median home price in Riverside County grew to $615,000 in 2022, a 9.1% increase from 2021.