Riverside, California Property Taxes
The median property tax rate in Riverside, CA is 1.11%, slightly higher than the national median of 0.99% but lower than the California state median of 1.21%. With the median home value in Riverside at $331,526, the typical annual property tax bill reaches $3,668, surpassing the national median of $2,690. Property taxes in Riverside are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Riverside's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Riverside or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Riverside, California Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,420
Ownwell’s Riverside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverside to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Riverside, California
Property taxes in Riverside, CA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverside is 1.11%, which is higher than the U.S. national median of 0.99%. Local government entities within Riverside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverside estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Riverside's effective property tax rate to other areas in Riverside County and the national median. For comparison, the 92509 zip code has the highest median property tax rate of 1.33%, while the 92506 zip code has the lowest median tax rate of 1.09%. Understanding how these areas compare with Riverside provides valuable insights into the varying tax landscape across Riverside County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverside Tax Rate
1.11%
Average Riverside County Tax Rate
1.26%
Average California Tax Rate
1.21%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverside, California
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
92403 | 1.15% | 1.15% | 1.15% | 1.15% | 1.15% |
92501 | 1.07% | 1.09% | 1.11% | 1.14% | 1.43% |
92502 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
92503 | 1.08% | 1.11% | 1.14% | 1.20% | 1.49% |
92504 | 1.06% | 1.08% | 1.09% | 1.12% | 1.15% |
92505 | 1.09% | 1.13% | 1.16% | 1.17% | 1.37% |
92506 | 1.07% | 1.08% | 1.09% | 1.11% | 1.13% |
92507 | 1.02% | 1.09% | 1.11% | 1.16% | 1.69% |
92508 | 1.06% | 1.09% | 1.10% | 1.21% | 1.48% |
92509 | 1.08% | 1.10% | 1.33% | 1.42% | 1.96% |
92521 | N/A | N/A | N/A | N/A | N/A |
92563 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Riverside, California
In Riverside, California, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Riverside County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Riverside, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Riverside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $7,509 in the 92502 zip code, while the lowest is $1,078 in the 92403 zip code.
Average Riverside Assessed Value
$331,526
Average Riverside County Assessed Value
$321,125
Average California Assessed Value
$378,421
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverside, California
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
92403 | $93,636 | $93,636 | $93,636 | $93,636 | $93,636 |
92501 | $101,716 | $160,239 | $261,454 | $397,008 | $509,069 |
92502 | $620,754 | $620,754 | $620,754 | $620,754 | $620,754 |
92503 | $116,080 | $191,832 | $324,277 | $483,749 | $650,248 |
92504 | $94,356 | $169,220 | $290,565 | $447,372 | $639,862 |
92505 | $86,806 | $179,169 | $284,104 | $430,884 | $551,298 |
92506 | $145,996 | $236,708 | $376,512 | $536,099 | $748,503 |
92507 | $82,834 | $155,072 | $288,976 | $466,406 | $596,700 |
92508 | $236,541 | $315,837 | $443,140 | $578,147 | $707,556 |
92509 | $13,477 | $13,477 | $125,543 | $380,789 | $457,267 |
92521 | N/A | N/A | N/A | N/A | N/A |
92563 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Riverside, California
Property tax bills in Riverside, CA are calculated based on the assessed value of a property, which is determined by the Riverside County Assessor. The assessed value is typically a percentage of the property's market value. Homeowners can expect their tax bill to reflect this assessed value multiplied by the local tax rate. For Riverside, the median home price stands at $331,526. The property tax rate in Riverside is influenced by various factors, including local government budgets, school funding, and infrastructure needs. For example, the tax bill for the 25th percentile is $2,165, while the 75th percentile sees a tax bill of $5,451. At the higher end, the 90th percentile tax bill reaches $7,793. Homeowners in the 92502 zip code face the highest median tax bill of $7,509, whereas those in the 92403 zip code encounter the lowest median tax bill at $1,078. These variations significantly affect homeowners, impacting their overall financial planning and long-term investments.
Average Riverside Tax Bill
$3,668
Average Riverside County Tax Bill
$4,079
Average California Tax Bill
$4,683
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverside, California
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
92403 | $1,078 | $1,078 | $1,078 | $1,078 | $1,078 |
92501 | $1,118 | $1,757 | $2,964 | $4,526 | $5,935 |
92502 | $7,509 | $7,509 | $7,509 | $7,509 | $7,509 |
92503 | $1,321 | $2,171 | $3,715 | $5,624 | $8,655 |
92504 | $940 | $1,810 | $3,150 | $4,744 | $6,889 |
92505 | $904 | $2,022 | $3,293 | $5,097 | $6,465 |
92506 | $1,543 | $2,516 | $4,016 | $5,715 | $8,008 |
92507 | $1,006 | $1,757 | $3,114 | $4,964 | $7,916 |
92508 | $2,515 | $3,459 | $4,976 | $6,850 | $8,695 |
92509 | $191 | $191 | $1,389 | $4,166 | $8,628 |
92521 | N/A | N/A | N/A | N/A | N/A |
92563 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
---|---|
Property Valuation Date | January 1 |
Appeal Deadline | November 30 |
Tax Bill | |
Issued | October 1 |
Due Date #1 | December 10 |
Due Date #2 | April 10 |
Links | |
---|---|
Riverside Tax Assessor | |
Website | ca-riverside-acr.publicaccessnow.com |