Property In RivCo Worth $433B In 2024…7% Increase From 2023
Riverside County Assessor-County Clerk-Recorder Peter Aldana has completed the 2024 Assessment Roll, and total assessed value of all property in the county is just shy of 433 billion dollars.
That’s an increase of more than 7 percent from a year ago, much of it due to new construction.
Aldana’s office reports home prices are holding steady, with the median home price in Riverside County standing at $618,000. A 20% down payment to buy one of those homes, will set you back 122 thousand dollars.
Secured property values, which include land, structures, fixtures, and personal property, reached $417.88 billion, reflecting a 6.93% increase from last year. Land values alone were assessed at $113.89 billion, a 6.27% increase. Structures contributed $301.93 billion, marking a 7.19% increase, while fixtures increased by 12.11% to $940.98 million.
Unsecured property values, encompassing business personal property such as machinery and equipment, totaled $15.09 billion, marking a 12.53% increase. Personal property within this category rose by 9.37% to $7.28 billion.
Property owners may review their 2024 Assessment Roll value by visiting the Riverside County Assessor’s public access online services website at www.rivcoacr.org
Owners who disagree with the valuation can file a free decline-in-value application online by November 1. Formal Assessment Appeals are due by November 30 and can be submitted online or by filing a paper form.
The completion of the Assessment Roll is the formal certification of all real estate and business personal property assessments within the county. It ensures that property values are accurately recorded and prepared for tax purposes, reflecting changes in ownership, new construction, and improvements. These assessments support vital community services, ensuring that the communities remain vibrant and secure.
new luxury home with elegant touches including covered entrance, columns.
Photo from Apha Media Portland OR