The Board of Supervisors Tuesday certified the latest property tax roll for Riverside County, which showed a 6.2 percent increase over the 12-month period ending Jan. 1.
The unanimous vote was recorded without comment during the supervisors’ consent agenda.
According to the Assessor-Clerk-Recorder’s Office, the county’s property tax assessment roll for the most recent base year, valued as of Jan. 1, was $286 billion, compared to $269.1 billion in the Jan. 1, 2017, assessment.
The roll, which represents the composite value of all commercial and residential real estate within the county, has increased for the last six 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 — 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 roll.
The board 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: www.asrclkrec.com/ . Appeals are due by Nov. 30.
>> Want to read more stories like this? Get our Free Daily Newsletters Here!Follow us: