Cherry Valley, Riverside County, California Property Taxes
Median Cherry Valley, CA effective property tax rate: 1.30%, significantly higher than the national median of 1.02%, but lower than the California state median of 1.21%.
Median Cherry Valley, CA home value: $232,644
Median annual Cherry Valley, CA tax bill: $2,927, $527 higher than the national median property tax bill of $2,400.
How are property taxes in Riverside calculated?
Property taxes in Cherry Valley, CA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Cherry Valley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cherry Valley, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cherry Valley, Riverside County, California Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.3%
Estimate Property Tax Bill
$3,024
$2,807
Property Tax Rates Across Cherry Valley, Riverside County, California
Local government entities set property tax rates, and these can differ significantly within a state. Annually, each county estimates the budget needed to provide essential services and divides it by the total value of all taxable properties in its area. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core process each year.
In Cherry Valley, located in Riverside County, the effective property tax rate stands at 1.30%. When compared to the median property tax rate in California, Cherry Valley's rate aligns precisely with the state average. However, it is higher than the national median property tax rate of 1.02%. This means that homeowners in Cherry Valley may find themselves paying more in property taxes compared to the national average.
Understanding these rates is crucial for homeowners as they navigate their finances and property investments. By being informed of how Cherry Valley's rates compare to both state and national figures, residents can make more informed decisions regarding their property taxes.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Cherry Valley Tax Rate
1.30%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Riverside County Tax Rate
1.26%
Median Effective California Tax Rate
1.21%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cherry Valley, Riverside County, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92223 | 1.21% | 1.28% | 1.30% | 1.33% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Cherry Valley, Riverside County, California
When examining property taxes in Cherry Valley, CA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Riverside County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Riverside County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Cherry Valley. For example, the median home price in Cherry Valley is $232,644, with tax bills ranging significantly across the county. 92223 has the highest median home price at $232,644.
Property Tax Assessment Values Across Cherry Valley, Riverside County, California
Source: Ownwell
$13,036
$421,705
$830,374
Median Cherry Valley Market Value
$232,644
Median Riverside County Market Value
$321,125
Median California Market Value
$378,421
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cherry Valley, Riverside County, California
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92223 | $78,683 | $143,388 | $232,644 | $370,381 | $573,380 |
Source: Ownwell
Property Tax Bills Across Cherry Valley, Riverside County, California
In Cherry Valley, property tax bills are calculated based on the assessed value of a home, which is determined by the Riverside County Assessor. The tax rate is applied to this assessed value, resulting in the annual property tax bill. Factors such as property improvements, market conditions, and local levies can influence the assessed value. Homeowners in Cherry Valley face a median property tax bill of $2,927, which is above the national median of $2,400. Tax bills can vary significantly, with the 25th percentile at $1,820 and the 90th percentile reaching up to $7,226, reflecting the diverse property values within the area.
These tax obligations can place a significant burden on homeowners. However, Ownwell offers property tax appeal services that can help reduce these bills by ensuring that assessments are fair and accurate. By analyzing property data and market trends, Ownwell identifies opportunities for tax savings, providing expert guidance throughout the appeal process. This can lead to substantial savings, easing the financial burden on homeowners in Cherry Valley.
Property Tax Bills Across Cherry Valley, Riverside County, California
Source: Ownwell
$159
$5,610
$11,060
Median Cherry Valley Tax Bill
$2,927
Median Riverside County Tax Bill
$4,079
Median California Tax Bill
$4,683
Median United States Tax Bill
$2,400
Property Tax Bills Across Cherry Valley, Riverside County, California
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92223 | $1,010 | $1,820 | $2,927 | $4,710 | $7,226 |
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 |