Riverside County tax roll grows, impacts of COVID yet to be seen
Strong demand for inland real estate led to a nearly 6% increase in property values in Riverside County going into 2020, according to Riverside County’s Assessor-County Clerk-Recorder.
Assessor-County Clerk-Recorder Peter Aldana announced today that the taxable value of all property in Riverside County for the current year grew to $320 billion, an $18 billion increase. This year's tax roll—a list of all taxable property, its owner and its value as of Jan. 1—will generate more than $3.2 billion for local government services.
“Since the tax roll is based on property values as of Jan. 1, we won’t see the impacts of COVID until next year,” Aldana said. “Pre-COVID, our economy was growing and strong demand for Riverside County real estate led to increasing property values. We won’t see the impacts of COVID until we look at property values as of Jan. 1, 2021. A lot can happen between now and then.”