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Saturday, October 5, 2024

Analysis: Riverside County effective property tax rates were lower than the national average in Q2 2023

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Property owners in Riverside County paid 0.5% of the value of their homes in property taxes in the second quarter of 2023, which is less than 0.4 times the national average, according to the real estate analysis posted by Coachella Today.

The median sales price of a Riverside County home in the second quarter of 2023 was $575,000, based on data from the 4,791 properties sold during that time. In 2023, the median tax bill for the county was $2,581, which is 0.5% of the median value of the homes that were taxed.

This is 0.4 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Riverside County real estate data showed homeowners in Mecca , Coachella, and Beaumont paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Mecca with some other cities belonging to Riverside County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2023.

CityQ2 2023 SalesQ2 2023 Median PriceMedian tax 2023Effective tax rate
Mecca 3$120,000$1,3731.1%
Coachella24$402,500$2,6380.7%
Beaumont92$509,750$3,4270.7%
Palm Desert453$550,000$3,0620.6%
Indian Wells77$1,300,000$7,1950.6%
Cherry Valley 14$389,000$2,1820.6%
Lake Elsinore101$575,000$2,6020.5%
Wildomar63$603,000$2,8220.5%
Rancho Mirage137$930,000$5,1110.5%
Indio180$502,750$2,6230.5%
Murrieta311$650,000$3,1040.5%
Banning64$350,000$1,6210.5%
Perris120$497,000$2,5920.5%
Canyon Lake59$640,000$2,9740.5%
Cathedral City108$477,500$2,4880.5%
Temecula243$679,000$3,2470.5%
Palm Springs281$610,000$3,0010.5%
Desert Hot Springs118$375,000$1,9740.5%
Calimesa7$480,000$2,3280.5%
Colton 2$550,000$2,9170.5%
Menifee 285$505,000$2,7230.5%
Thermal2$300,000$1,6030.5%
Thousand Palms5$430,000$1,9860.5%
Moreno Valley263$510,000$1,9970.4%
San Jacinto93$430,000$1,7340.4%
La Quinta293$775,000$3,3600.4%
Hemet269$410,000$1,7150.4%
Corona353$780,000$3,3860.4%
Blythe24$245,000$8940.4%
Riverside482$614,500$2,1990.4%
Mira Loma 25$665,000$2,4920.4%
Nuevo 8$525,000$2,2110.4%
Cabazon 6$252,500$1,0540.4%
Bermuda Dunes 26$602,500$2,5950.4%
Idyllwild-Pine Cove 26$506,500$2,0490.4%
Anza 10$401,250$1,4850.4%
Mountain Center 4$672,500$2,5980.4%
Aguanga 7$515,000$2,0480.4%
Norco37$920,000$2,9980.3%
Rubidoux 21$565,000$1,7510.3%
Lakeview 2$553,500$1,7920.3%
Lakeland Village15$405,000$1,3300.3%
White Water 2$486,000$1,1680.2%
Homeland 3$895,000$2,1180.2%

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